New York State Teachers Retirement System Reduces Position in N-able, Inc. (NYSE:NABL)

New York State Teachers Retirement System decreased its holdings in shares of N-able, Inc. (NYSE:NABL) by 15.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,655 shares of the company’s stock after selling 3,873 shares during the quarter. New York State Teachers Retirement System’s holdings in N-able were worth $193,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Entropy Technologies LP purchased a new stake in shares of N-able in the third quarter valued at about $149,000. Aigen Investment Management LP increased its position in N-able by 38.4% during the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares during the last quarter. Victory Capital Management Inc. increased its position in N-able by 14.4% during the third quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock worth $725,000 after purchasing an additional 7,000 shares during the last quarter. MQS Management LLC acquired a new stake in N-able during the third quarter worth about $330,000. Finally, Quest Partners LLC increased its position in N-able by 91.4% during the third quarter. Quest Partners LLC now owns 67,217 shares of the company’s stock worth $878,000 after purchasing an additional 32,094 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NABL shares. Royal Bank of Canada cut their price objective on shares of N-able from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. BMO Capital Markets cut their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Finally, Scotiabank cut their price objective on shares of N-able from $11.20 to $11.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st.

N-able Price Performance

Shares of NABL opened at $10.25 on Tuesday. N-able, Inc. has a 1-year low of $8.91 and a 1-year high of $15.48. The stock has a market cap of $1.90 billion, a PE ratio of 51.23 and a beta of 0.42. The firm has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $11.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

N-able Company 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.