ArrowMark Colorado Holdings LLC Sells 476,365 Shares of N-able, Inc. (NYSE:NABL)

ArrowMark Colorado Holdings LLC cut its position in N-able, Inc. (NYSE:NABL) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,963,602 shares of the company’s stock after selling 476,365 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in N-able were worth $38,705,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in shares of N-able by 2.2% in the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after buying an additional 866 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of N-able by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after buying an additional 900 shares in the last quarter. Rhumbline Advisers boosted its position in N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after acquiring an additional 1,668 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of N-able during the 2nd quarter worth approximately $30,000. Finally, Arizona State Retirement System grew its stake in shares of N-able by 17.6% during the 2nd quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock worth $315,000 after acquiring an additional 3,094 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analyst Weigh In

NABL has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $15.00 target price on shares of N-able in a report on Thursday, November 21st. BMO Capital Markets reduced their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of N-able in a research report on Friday, November 22nd.

N-able Price Performance

NYSE:NABL opened at $10.44 on Monday. The stock has a market capitalization of $1.94 billion, a PE ratio of 52.20 and a beta of 0.47. N-able, Inc. has a 1-year low of $9.98 and a 1-year high of $15.48. The firm has a fifty day simple moving average of $11.92 and a 200 day simple moving average of $12.98. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same period in the previous year, the business earned $0.03 EPS. N-able’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.