Entropy Technologies LP Takes $149,000 Position in N-able, Inc. (NYSE:NABL)

Entropy Technologies LP purchased a new position in shares of N-able, Inc. (NYSE:NABL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,400 shares of the company’s stock, valued at approximately $149,000.

Several other hedge funds have also modified their holdings of the business. Summit Securities Group LLC purchased a new stake in N-able in the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake in shares of N-able by 644.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after buying an additional 3,163 shares during the period. ProShare Advisors LLC lifted its stake in shares of N-able by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after purchasing an additional 971 shares in the last quarter. Summit Global Investments acquired a new position in N-able during the second quarter valued at approximately $191,000. Finally, Handelsbanken Fonder AB purchased a new stake in N-able during the 3rd quarter worth $221,000. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Stock Performance

NABL opened at $10.54 on Monday. N-able, Inc. has a fifty-two week low of $10.52 and a fifty-two week high of $15.48. The business has a fifty day simple moving average of $12.39 and a 200-day simple moving average of $13.15. The firm has a market cap of $1.96 billion, a PE ratio of 52.70 and a beta of 0.47. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS 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 business had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same period last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that N-able, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NABL. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a research note on Monday, November 11th. BMO Capital Markets dropped their price target on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Friday, November 8th.

About N-able

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.