Edgestream Partners L.P. Grows Stake in N-able, Inc. (NYSE:NABL)

Edgestream Partners L.P. lifted its position in N-able, Inc. (NYSE:NABL) by 86.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 417,004 shares of the company’s stock after purchasing an additional 193,387 shares during the period. Edgestream Partners L.P.’s holdings in N-able were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Applied Fundamental Research LLC boosted its stake in shares of N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after buying an additional 664,198 shares during the last quarter. Barclays PLC boosted its stake in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock worth $1,869,000 after buying an additional 114,374 shares during the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of N-able in the 4th quarter worth $1,006,000. Algert Global LLC boosted its stake in shares of N-able by 73.6% in the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company’s stock worth $2,104,000 after buying an additional 68,320 shares during the last quarter. Finally, Atom Investors LP boosted its stake in shares of N-able by 59.2% in the 3rd quarter. Atom Investors LP now owns 156,126 shares of the company’s stock worth $2,039,000 after buying an additional 58,087 shares during the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Price Performance

NYSE:NABL opened at $7.36 on Friday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $9.44 and its two-hundred day simple moving average is $10.91. The stock has a market cap of $1.37 billion, a PE ratio of 36.78 and a beta of 0.41. N-able, Inc. has a 52 week low of $6.75 and a 52 week high of $15.48.

Analyst Ratings Changes

NABL has been the topic of a number of research reports. Scotiabank dropped their price target on N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 4th. Needham & Company LLC decreased their target price on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada decreased their target price on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a report on Tuesday, March 4th.

N-able Profile

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.