Martingale Asset Management L P Has $1.62 Million Stock Position in SolarWinds Co. (NYSE:SWI)

Martingale Asset Management L P decreased its holdings in shares of SolarWinds Co. (NYSE:SWI) by 17.7% in the 3rd quarter, Holdings Channel reports. The fund owned 123,976 shares of the software maker’s stock after selling 26,704 shares during the period. Martingale Asset Management L P’s holdings in SolarWinds were worth $1,618,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in SolarWinds by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock valued at $69,603,000 after buying an additional 461,061 shares in the last quarter. Scalar Gauge Management LLC boosted its stake in shares of SolarWinds by 11.3% during the second quarter. Scalar Gauge Management LLC now owns 834,060 shares of the software maker’s stock valued at $10,050,000 after purchasing an additional 85,000 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of SolarWinds by 48.5% during the second quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after purchasing an additional 269,578 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in SolarWinds by 4.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock worth $7,389,000 after buying an additional 25,416 shares during the period. Finally, Federated Hermes Inc. boosted its position in SolarWinds by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 560,015 shares of the software maker’s stock worth $6,748,000 after buying an additional 2,491 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

Insider Activity

In related news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the completion of the sale, the insider now owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. This trade represents a 13.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction on Tuesday, November 5th. The shares were 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. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,000 shares of company stock worth $4,703,780 in the last three months. Company insiders own 1.95% of the company’s stock.

SolarWinds Price Performance

SWI stock opened at $13.35 on Monday. SolarWinds Co. has a 12-month low of $10.14 and a 12-month high of $14.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $13.03 and its 200 day simple moving average is $12.41. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 60.68 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 for the quarter, beating the consensus estimate of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that SolarWinds Co. will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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