LGT Capital Partners LTD. Increases Position in N-able, Inc. (NYSE:NABL)

LGT Capital Partners LTD. raised its position in shares of N-able, Inc. (NYSE:NABL) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,000 shares of the company’s stock after purchasing an additional 65,000 shares during the period. LGT Capital Partners LTD. owned approximately 0.29% of N-able worth $7,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in N-able by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,081 shares of the company’s stock valued at $411,000 after buying an additional 843 shares during the period. Tudor Investment Corp Et Al increased its stake in shares of N-able by 0.7% in the third quarter. Tudor Investment Corp Et Al now owns 157,395 shares of the company’s stock worth $2,030,000 after buying an additional 1,067 shares during the period. UBS Group AG raised its holdings in N-able by 1.8% during the 3rd quarter. UBS Group AG now owns 68,256 shares of the company’s stock valued at $881,000 after buying an additional 1,195 shares during the last quarter. Swiss National Bank boosted its position in N-able by 1.0% during the 3rd quarter. Swiss National Bank now owns 140,050 shares of the company’s stock valued at $1,807,000 after buying an additional 1,400 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in N-able by 63.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,646 shares of the company’s stock worth $53,000 after acquiring an additional 1,418 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their target price on N-able from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $16.50 target price on shares of N-able in a report on Thursday, February 22nd.

N-able Stock Performance

N-able stock opened at $13.07 on Friday. N-able, Inc. has a fifty-two week low of $11.50 and a fifty-two week high of $15.44. The stock’s 50 day simple moving average is $13.24 and its two-hundred day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 108.93 and a beta of 0.39.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $108.42 million for the quarter, compared to analysts’ expectations of $106.86 million. N-able had a return on equity of 4.20% and a net margin of 5.55%. As a group, analysts expect that N-able, Inc. will post 0.25 earnings per share 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.