ABS Direct Equity Fund LLC Trims Stock Position in SolarWinds Co. (NYSE:SWI)

ABS Direct Equity Fund LLC trimmed its stake in shares of SolarWinds Co. (NYSE:SWIFree Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,000 shares of the software maker’s stock after selling 10,000 shares during the quarter. SolarWinds makes up 3.7% of ABS Direct Equity Fund LLC’s holdings, making the stock its 10th biggest holding. ABS Direct Equity Fund LLC’s holdings in SolarWinds were worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SWI. Pacer Advisors Inc. boosted its position in shares of SolarWinds by 18.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock valued at $235,000 after purchasing an additional 2,574 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of SolarWinds in the 3rd quarter valued at $3,673,000. Franklin Resources Inc. lifted its position in shares of SolarWinds by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after acquiring an additional 1,760 shares during the period. Barclays PLC boosted its stake in SolarWinds by 170.1% during the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after acquiring an additional 59,532 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in SolarWinds in the third quarter worth $226,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Stock Performance

Shares of SWI stock opened at $14.51 on Tuesday. 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 firm has a 50-day moving average of $14.07 and a 200-day moving average of $13.12. SolarWinds Co. has a one year low of $10.14 and a one year high of $14.95. The company has a market cap of $2.47 billion, a P/E ratio of 65.94 and a beta of 0.94.

SolarWinds (NYSE:SWIGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping 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 business had revenue of $200.03 million for the quarter, compared to analyst estimates of $194.03 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

Insider Transactions at SolarWinds

In other news, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total transaction of $210,080.00. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Bliss sold 135,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SWI. Royal Bank of Canada increased their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Scotiabank boosted their price objective on SolarWinds from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Wedbush began coverage on SolarWinds in a report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Robert W. Baird boosted their price target on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

Read Our Latest Report on SWI

SolarWinds Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SolarWinds (NYSE:SWI)

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