Gabelli Funds LLC Reduces Stock Position in SolarWinds Co. (NYSE:SWI)

Gabelli Funds LLC cut its holdings in SolarWinds Co. (NYSE:SWI) by 2.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 83,973 shares of the software maker’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in SolarWinds were worth $1,197,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SWI. State Street Corp boosted its holdings in shares of SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares during the last quarter. Jane Street Group LLC increased its position in shares of SolarWinds by 9.4% during the third quarter. Jane Street Group LLC now owns 87,488 shares of the software maker’s stock worth $1,142,000 after acquiring an additional 7,506 shares during the last quarter. Barclays PLC raised its position in shares of SolarWinds by 170.1% in the 3rd quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock valued at $1,233,000 after purchasing an additional 59,532 shares in the last quarter. Geode Capital Management LLC raised its holdings in SolarWinds by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,290,044 shares of the software maker’s stock valued at $16,839,000 after acquiring an additional 16,730 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of SolarWinds by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after purchasing an additional 1,760 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SolarWinds Stock Performance

NYSE:SWI opened at $18.49 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85. The company has a market capitalization of $3.20 billion, a P/E ratio of 29.35 and a beta of 0.88. SolarWinds Co. has a 52 week low of $10.14 and a 52 week high of $18.55. The stock’s 50 day moving average price is $18.38 and its 200 day moving average price is $15.47.

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