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

ArrowMark Colorado Holdings LLC lowered its stake in shares of N-able, Inc. (NYSE:NABL) by 13.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,963,602 shares of the company’s stock after selling 476,365 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 1.60% of N-able worth $38,705,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of N-able in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after purchasing an additional 3,163 shares during the period. Verition Fund Management LLC acquired a new stake in N-able during the third quarter worth $146,000. Entropy Technologies LP bought a new stake in N-able in the 3rd quarter valued at $149,000. Finally, Aigen Investment Management LP raised its stake in shares of N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after buying an additional 3,863 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $15.00 target price on shares of N-able in a research report on Thursday, November 21st. BMO Capital Markets decreased their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Friday, November 22nd.

N-able Stock Up 1.6 %

NABL opened at $10.44 on Monday. N-able, Inc. has a twelve month low of $9.98 and a twelve month high of $15.48. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 52.20 and a beta of 0.47. The firm’s 50-day simple moving average is $11.92 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL) last posted 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. The company had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. Equities research analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

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.