Brokerages Set SolarWinds Co. (NYSE:SWI) PT at $15.00

SolarWinds Co. (NYSE:SWI) has received an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.50.

A number of brokerages have commented on SWI. Wedbush began coverage on shares of SolarWinds in a report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price for the company. 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 report on Friday, November 1st. Royal Bank of Canada boosted their price target on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Scotiabank boosted their price target on SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Tuesday.

Insider Activity at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total value of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock worth $4,703,780 over the last quarter. Insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On SolarWinds

Several hedge funds have recently bought and sold shares of SWI. GAMMA Investing LLC boosted its position in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares in the last quarter. Allworth Financial LP boosted its position in SolarWinds by 732.1% in the 3rd 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. Allspring Global Investments Holdings LLC boosted its position in SolarWinds by 24.6% in the 3rd 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. West Tower Group LLC boosted its position in SolarWinds by 38.3% in the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in SolarWinds by 74.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 9,425 shares of the software maker’s stock worth $114,000 after purchasing an additional 4,025 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Performance

SWI stock opened at $14.62 on Thursday. The company has a market capitalization of $2.49 billion, a P/E ratio of 66.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average price of $13.99 and a 200 day moving average price of $13.05. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping 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 net margin of 4.93% and a return on equity of 7.96%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, equities research analysts forecast that SolarWinds will post 0.74 EPS 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.