N-able, Inc. $NABL Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its N-able stake by 68.4% in the first quarter, owning 880,500 shares valued at approximately $4.1 million. Institutional investors collectively hold 96.35% of the company.
• Analyst sentiment remains mixed: three analysts rate N-able a Buy, two a Hold, and three a Sell. The stock has an average rating of Hold and a consensus price target of $7.55.
• N-able’s latest quarterly results met EPS expectations at $0.09 and exceeded revenue estimates with $133.68 million, while revenue rose 13.1% year over year. Shares recently opened at $4.99, within a 12-month range of $2.92 to $8.73.

Renaissance Technologies LLC raised its stake in N-able, Inc. (NYSE:NABL - Free Report) by 68.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 880,500 shares of the company's stock after purchasing an additional 357,500 shares during the quarter. Renaissance Technologies LLC owned 0.47% of N-able worth $4,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NABL. Defiance ETFs LLC purchased a new stake in shares of N-able during the fourth quarter worth approximately $8,954,000. Ameriprise Financial Inc. increased its stake in N-able by 516.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company's stock valued at $10,325,000 after buying an additional 1,068,061 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in N-able during the 1st quarter worth $2,642,000. Bank of America Corp DE raised its position in N-able by 271.8% during the 2nd quarter. Bank of America Corp DE now owns 679,119 shares of the company's stock worth $5,501,000 after buying an additional 496,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of N-able by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock worth $22,277,000 after acquiring an additional 474,028 shares during the period. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NABL. Wall Street Zen raised shares of N-able from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Scotiabank raised their price objective on shares of N-able from $5.25 to $5.75 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Weiss Ratings restated a "sell (d)" rating on shares of N-able in a research report on Friday, July 17th. Zacks Research lowered N-able from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Finally, Needham & Company LLC dropped their target price on N-able from $8.00 to $6.50 and set a "buy" rating on the stock in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.55.

N-able Price Performance

Shares of NYSE:NABL opened at $4.99 on Friday. The firm has a market capitalization of $939.64 million, a price-to-earnings ratio of -99.76 and a beta of 0.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The business's 50 day simple moving average is $4.02 and its 200-day simple moving average is $4.60. N-able, Inc. has a 12 month low of $2.92 and a 12 month high of $8.73.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $133.68 million during the quarter, compared to the consensus estimate of $131.62 million. N-able had a positive return on equity of 3.40% and a negative net margin of 1.99%.N-able's quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. As a group, equities analysts forecast that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

N-able Profile

N-able NYSE: NABL is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.

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