272 Capital LP Lowers Position in SolarWinds Co. (NYSE:SWI)

272 Capital LP reduced its holdings in shares of SolarWinds Co. (NYSE:SWI) by 16.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,427 shares of the software maker’s stock after selling 67,206 shares during the quarter. SolarWinds accounts for 2.4% of 272 Capital LP’s portfolio, making the stock its 13th largest position. 272 Capital LP’s holdings in SolarWinds were worth $4,573,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in SolarWinds by 344.7% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after buying an additional 1,603 shares during the period. nVerses Capital LLC acquired a new position in shares of SolarWinds during the second quarter worth $41,000. Allworth Financial LP lifted its position in shares of SolarWinds by 732.1% during the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after purchasing an additional 3,331 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SolarWinds during the second quarter worth $58,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after purchasing an additional 1,001 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SWI has been the topic of a number of recent research reports. 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. Robert W. Baird boosted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SolarWinds has an average rating of “Hold” and a consensus price target of $14.00.

SolarWinds Stock Up 0.7 %

SWI stock opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.93. The firm has a fifty day moving average price of $13.32 and a two-hundred day moving average price of $12.55. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 67.46 and a beta of 0.96.

SolarWinds (NYSE:SWI) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million during the quarter, compared to analyst estimates of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Research analysts predict that SolarWinds Co. will post 0.74 EPS for the current year.

Insider Transactions at SolarWinds

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Bliss sold 135,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 838,789 shares of the company’s stock, valued at $10,921,032.78. This represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,000 shares of company stock worth $4,703,780. Insiders own 1.95% of the company’s stock.

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.