Wedbush Begins Coverage on SolarWinds (NYSE:SWI)

Wedbush started coverage on shares of SolarWinds (NYSE:SWI) in a research report report published on Thursday, Marketbeat reports. The firm issued an outperform rating and a $20.00 price objective on the software maker’s stock.

A number of other equities analysts have also issued reports on the stock. Scotiabank assumed 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 upped their price objective on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.00.

SolarWinds Price Performance

Shares of SolarWinds stock opened at $14.28 on Thursday. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94. The firm’s 50-day moving average price is $13.45 and its two-hundred day moving average price is $12.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 64.91 and a beta of 0.96.

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

Insiders Place Their Bets

In other SolarWinds news, Director William G. Bock sold 16,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 88,857 shares in the company, valued at $1,166,692.41. This represents a 15.26 % decrease in their ownership of the stock. 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 SolarWinds stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares in the company, valued at $30,262,499.28. This trade represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,000 shares of company stock valued at $4,703,780. Company insiders own 1.95% of the company’s stock.

Institutional Trading of SolarWinds

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 1,603 shares during the period. nVerses Capital LLC acquired a new position in SolarWinds during the 2nd quarter worth approximately $41,000. Allworth Financial LP grew its stake in shares of SolarWinds by 732.1% during the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,331 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SolarWinds in the second quarter valued at approximately $58,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of SolarWinds by 24.6% in 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 institutional investors and hedge funds.

SolarWinds Company Profile

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.