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

Lexington Partners L.P. acquired a new position in N-able, Inc. (NYSE:NABL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,239,867 shares of the company’s stock, valued at approximately $4,550,312,000. N-able accounts for about 3.4% of Lexington Partners L.P.’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds have also modified their holdings of the company. iSAM Funds UK Ltd increased its stake in shares of N-able by 13.5% in the 3rd quarter. iSAM Funds UK Ltd now owns 12,972 shares of the company’s stock valued at $101,000 after purchasing an additional 1,541 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in N-able by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after purchasing an additional 1,825 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in N-able by 93.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock worth $30,000 after purchasing an additional 1,924 shares in the last quarter. Lazard Asset Management LLC grew its holdings in N-able by 0.7% in the second quarter. Lazard Asset Management LLC now owns 319,379 shares of the company’s stock valued at $2,586,000 after purchasing an additional 2,100 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in N-able by 179.8% in the fourth quarter. Hantz Financial Services Inc. now owns 3,277 shares of the company’s stock valued at $25,000 after purchasing an additional 2,106 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Price Performance

NYSE:NABL opened at $3.40 on Wednesday. N-able, Inc. has a 12 month low of $2.92 and a 12 month high of $8.73. The stock has a 50 day moving average of $3.96 and a two-hundred day moving average of $4.43. 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 firm has a market cap of $641.35 million, a P/E ratio of -169.75 and a beta of 0.50.

N-able (NYSE:NABL) last released its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $138.22 million for the quarter, compared to the consensus estimate of $138.08 million. N-able had a positive return on equity of 3.54% and a negative net margin of 0.88%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. On average, analysts expect that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NABL. Zacks Research raised N-able from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Royal Bank Of Canada cut shares of N-able from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $6.00 to $4.00 in a research note on Tuesday, August 11th. BMO Capital Markets cut their price target on shares of N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a report on Tuesday, August 11th. Scotiabank cut their price target on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Finally, Needham & Company LLC reduced their price objective on shares of N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.08.

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.