SolarWinds Co. (NYSE:SWI) Short Interest Update

SolarWinds Co. (NYSE:SWI) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,930,000 shares, a decrease of 21.9% from the October 15th total of 2,470,000 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average trading volume of 514,500 shares, the days-to-cover ratio is presently 3.8 days.

Analyst Upgrades and Downgrades

SWI has been the topic of several research analyst reports. Robert W. Baird upped their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Scotiabank began coverage on SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price on the stock. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Insiders Place Their Bets

In other news, insider Jason Bliss sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the completion of the transaction, the insider now directly owns 838,789 shares of the company’s stock, valued at $10,921,032.78. This trade represents a 13.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,000 shares of company stock worth $4,703,780 over the last ninety days. 1.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarWinds

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in 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 acquiring an additional 2,343 shares during the last quarter. ProShare Advisors LLC increased its position in 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 purchasing an additional 1,565 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in SolarWinds in the first quarter valued at approximately $62,000. Price T Rowe Associates Inc. MD grew its stake in shares of SolarWinds by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock worth $414,000 after buying an additional 2,145 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of SolarWinds by 7.0% during the first quarter. Public Employees Retirement System of Ohio now owns 54,944 shares of the software maker’s stock worth $693,000 after buying an additional 3,575 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Performance

Shares of SWI stock traded down $0.26 on Friday, hitting $13.18. The company’s stock had a trading volume of 328,388 shares, compared to its average volume of 700,161. SolarWinds has a fifty-two week low of $10.14 and a fifty-two week high of $14.02. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50 day moving average is $12.90 and its 200-day moving average is $12.30. The company has a market capitalization of $2.25 billion, a PE ratio of 59.91 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 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. SolarWinds’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. Equities research analysts expect that SolarWinds will post 0.74 earnings per share for the current fiscal year.

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.