SolarWinds (NYSE:SWI) Hits New 12-Month High – What’s Next?

SolarWinds Co. (NYSE:SWI) shares reached a new 52-week high on Tuesday . The stock traded as high as $13.47 and last traded at $13.47, with a volume of 354153 shares traded. The stock had previously closed at $13.12.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SWI. Robert W. Baird raised their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Scotiabank initiated coverage on shares of SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price on the stock. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.00.

SolarWinds Price Performance

The company’s fifty day moving average is $12.78 and its two-hundred day moving average is $12.19. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 63.59 and a beta of 0.96.

SolarWinds (NYSE:SWI) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $200.03 million for the quarter, compared to analyst estimates of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. Equities research analysts anticipate that SolarWinds Co. will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at SolarWinds

In other SolarWinds news, Director William G. Bock sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the sale, the director now owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William G. Bock sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the completion of the sale, the director now directly owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Bliss sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On SolarWinds

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SWI. Allspring Global Investments Holdings LLC lifted its holdings in shares of SolarWinds by 28.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock valued at $134,000 after purchasing an additional 2,343 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of SolarWinds by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker’s stock worth $157,000 after acquiring an additional 1,565 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of SolarWinds by 11.6% in the first quarter. Foundry Partners LLC now owns 484,521 shares of the software maker’s stock valued at $6,115,000 after purchasing an additional 50,537 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of SolarWinds in the first quarter worth $62,000. Finally, Price T Rowe Associates Inc. MD grew its position in SolarWinds by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock valued at $414,000 after purchasing an additional 2,145 shares in the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

About SolarWinds

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.