Lexington Partners L.P. Acquires Shares of 1,239,867 N-able, Inc. $NABL

Lexington Partners L.P. acquired a new position in shares of N-able, Inc. (NYSE:NABL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,239,867 shares of the company’s stock, valued at approximately $4,550,312. N-able makes up about 0.0% of Lexington Partners L.P.’s portfolio, making the stock its 2nd largest position. Lexington Partners L.P. owned approximately 0.66% of N-able as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of N-able by 17.3% in the 1st quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock valued at $3,334,000 after purchasing an additional 105,518 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of N-able by 522.0% during the first quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock worth $663,000 after purchasing an additional 119,155 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of N-able by 68.4% in the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock valued at $4,112,000 after acquiring an additional 357,500 shares in the last quarter. Teton Advisors LLC purchased a new position in shares of N-able during the first quarter valued at $117,000. Finally, Gabelli Funds LLC boosted its position in N-able by 33.2% during the first quarter. Gabelli Funds LLC now owns 200,657 shares of the company’s stock worth $937,000 after purchasing an additional 50,048 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NABL has been the subject of several research reports. Wall Street Zen downgraded shares of N-able from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Royal Bank Of Canada downgraded shares of N-able from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $6.00 to $4.00 in a research note on Tuesday, August 11th. BMO Capital Markets lowered their price target on N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a report on Tuesday, August 11th. Needham & Company LLC cut their price objective on shares of N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Scotiabank reduced their price target on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.08.

N-able Trading Up 5.8%

Shares of NABL stock traded up $0.23 on Friday, reaching $4.18. The company had a trading volume of 1,774,216 shares, compared to its average volume of 1,821,263. The company has a 50-day moving average of $4.03 and a 200-day moving average of $4.33. N-able, Inc. has a 12 month low of $2.92 and a 12 month high of $8.73. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.48. The stock has a market cap of $789.64 million, a PE ratio of -209.00 and a beta of 0.50.

N-able (NYSE:NABL) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm had revenue of $138.22 million during the quarter, compared to the consensus estimate of $138.08 million. During the same quarter last year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that N-able, Inc. will post 0.23 earnings per share 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.