Renaissance Technologies LLC Boosts Holdings in N-able, Inc. $NABL

Renaissance Technologies LLC boosted its holdings in shares of N-able, Inc. (NYSE:NABL) by 68.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 880,500 shares of the company’s stock after acquiring an additional 357,500 shares during the period. Renaissance Technologies LLC’s holdings in N-able were worth $4,112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of N-able by 212.6% during the 1st quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock worth $883,000 after purchasing an additional 84,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in N-able by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock valued at $301,000 after buying an additional 1,825 shares in the last quarter. American Century Companies Inc. acquired a new stake in N-able during the 2nd quarter valued at $396,000. Norges Bank acquired a new stake in N-able during the 2nd quarter valued at $327,000. Finally, Quantbot Technologies LP purchased a new position in N-able during the second quarter worth $207,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

NABL has been the subject of a number of analyst reports. Wall Street Zen raised N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research cut N-able from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Needham & Company LLC cut their target price on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a research note on Friday, May 8th. Scotiabank upped their target price on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.55.

N-able Trading Up 2.4%

Shares of NABL opened at $4.99 on Friday. N-able, Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $8.73. The company has a market capitalization of $939.64 million, a PE ratio of -99.76 and a beta of 0.50. The stock has a fifty day moving average of $4.02 and a two-hundred day moving average of $4.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.26 and a current ratio of 1.26.

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

About N-able

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.