Scalar Gauge Management LLC Increases Position in N-able, Inc. (NYSE:NABL)

Scalar Gauge Management LLC raised its stake in N-able, Inc. (NYSE:NABL) by 40.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 978,663 shares of the company’s stock after acquiring an additional 279,387 shares during the quarter. N-able makes up 6.8% of Scalar Gauge Management LLC’s portfolio, making the stock its 4th biggest position. Scalar Gauge Management LLC’s holdings in N-able were worth $12,781,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NABL. Vanguard Group Inc. lifted its stake in shares of N-able by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock valued at $115,193,000 after buying an additional 116,293 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in N-able by 14.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,372 shares of the company’s stock valued at $528,000 after acquiring an additional 5,225 shares in the last quarter. Janus Henderson Group PLC boosted its stake in N-able by 1,041.3% during the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after purchasing an additional 200,095 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in N-able during the 1st quarter worth approximately $986,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NABL. BMO Capital Markets cut their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price objective on shares of N-able in a report on Thursday, November 21st. Finally, Needham & Company LLC reiterated 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 Performance

Shares of NABL opened at $10.44 on Friday. The stock has a 50 day moving average of $11.97 and a 200 day moving average of $13.00. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 52.20 and a beta of 0.47. N-able, Inc. has a 12 month low of $9.98 and a 12 month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, sell-side analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current 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.