SolarWinds Co. (NYSE:SWI) Short Interest Down 21.9% in October

SolarWinds Co. (NYSE:SWI) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,930,000 shares, a decrease of 21.9% from the October 15th total of 2,470,000 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average trading volume of 514,500 shares, the short-interest ratio is currently 3.8 days.

Insider Buying and Selling at SolarWinds

In other SolarWinds news, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now owns 88,857 shares in the company, valued at $1,166,692.41. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the sale, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,000 shares of company stock valued at $4,703,780. Company insiders own 1.95% of the company’s stock.

Institutional Trading of SolarWinds

Several institutional investors have recently modified their holdings of SWI. ABS Direct Equity Fund LLC boosted its holdings in shares of SolarWinds by 11.9% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 235,000 shares of the software maker’s stock worth $3,067,000 after purchasing an additional 25,000 shares during the last quarter. 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 buying an additional 59,532 shares during the period. Zacks Investment Management acquired a new stake in SolarWinds in the 3rd quarter valued at approximately $320,000. Jane Street Group LLC grew its stake in shares of SolarWinds by 9.4% in the third quarter. Jane Street Group LLC now owns 87,488 shares of the software maker’s stock valued at $1,142,000 after buying an additional 7,506 shares in the last quarter. Finally, Villanova Investment Management Co LLC boosted its holdings in SolarWinds by 42.8% during the 3rd quarter. Villanova Investment Management Co LLC now owns 149,709 shares of the software maker’s stock valued at $1,954,000 after acquiring an additional 44,839 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Stock Performance

SWI traded down $0.26 on Friday, reaching $13.18. The stock had a trading volume of 328,380 shares, compared to its average volume of 560,004. The company has a market cap of $2.25 billion, a P/E ratio of 59.91 and a beta of 0.96. SolarWinds has a 12-month low of $10.14 and a 12-month high of $14.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $12.90 and its two-hundred day moving average price is $12.29.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The business had revenue of $200.03 million during the quarter, compared to analysts’ expectations of $194.03 million. During the same period in the previous year, the business earned $0.11 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that SolarWinds will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SWI. Scotiabank started coverage on SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target on the stock. Robert W. Baird raised 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. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

SolarWinds Company 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.