Martingale Asset Management L P Trims Position in SolarWinds Co. (NYSE:SWI)

Martingale Asset Management L P cut its stake in shares of SolarWinds Co. (NYSE:SWI) by 26.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,620 shares of the software maker’s stock after selling 33,356 shares during the period. Martingale Asset Management L P’s holdings in SolarWinds were worth $1,291,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SWI. Charles Schwab Investment Management Inc. increased its holdings in SolarWinds by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,454 shares of the software maker’s stock worth $5,931,000 after acquiring an additional 30,707 shares during the period. FMR LLC increased its holdings in shares of SolarWinds by 28.6% in the third quarter. FMR LLC now owns 106,286 shares of the software maker’s stock worth $1,387,000 after purchasing an additional 23,623 shares during the period. Verition Fund Management LLC bought a new position in shares of SolarWinds in the third quarter worth $171,000. Quantinno Capital Management LP raised its position in shares of SolarWinds by 2.5% in the third quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock worth $629,000 after buying an additional 1,184 shares in the last quarter. Finally, State Street Corp boosted its stake in SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after buying an additional 800,467 shares during the period. 93.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SWI. Truist Financial restated a “hold” rating and issued a $18.50 target price (up from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Royal Bank of Canada raised their target price on shares of SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Scotiabank lifted their target price on shares of SolarWinds from $15.00 to $18.50 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Wedbush cut shares of SolarWinds from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Finally, Robert W. Baird lifted their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds currently has an average rating of “Hold” and an average target price of $18.00.

SolarWinds Stock Down 0.0 %

Shares of SWI opened at $18.49 on Friday. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.85 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $18.23 and a two-hundred day simple moving average of $15.27. The firm has a market cap of $3.20 billion, a P/E ratio of 29.34 and a beta of 0.88.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. On average, analysts forecast that SolarWinds Co. will post 0.75 earnings per share for the current fiscal year.

SolarWinds 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.