Sudhakar Ramakrishna Sells 200,000 Shares of SolarWinds Co. (NYSE:SWI) Stock

SolarWinds Co. (NYSE:SWI) CEO Sudhakar Ramakrishna sold 200,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the sale, the chief executive officer now owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SolarWinds Price Performance

Shares of NYSE SWI traded down $0.11 during midday trading on Friday, reaching $13.58. 535,026 shares of the company were exchanged, compared to its average volume of 556,952. The stock’s 50-day moving average price is $12.79 and its 200-day moving average price is $12.20. The stock has a market cap of $2.32 billion, a P/E ratio of 62.23 and a beta of 0.96. SolarWinds Co. has a one year low of $10.14 and a one year high of $14.02. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI) last released its earnings results 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. The business had revenue of $200.03 million for 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%. SolarWinds’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, sell-side analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarWinds

Several institutional investors have recently made changes to their positions in the stock. Boston Partners acquired a new stake in shares of SolarWinds in the 1st quarter worth about $1,084,000. Brandes Investment Partners LP raised its holdings in shares of SolarWinds by 12.3% in the 2nd quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock worth $4,424,000 after acquiring an additional 40,643 shares during the last quarter. 272 Capital LP acquired a new stake in shares of SolarWinds in the 2nd quarter worth about $5,032,000. Allspring Global Investments Holdings LLC grew its position in SolarWinds by 28.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock worth $134,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in SolarWinds by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after purchasing an additional 461,061 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. 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. Scotiabank started coverage on SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.00.

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.