Wellington Management Group LLP Reduces Stock Position in SolarWinds Co. (NYSE:SWI)

Wellington Management Group LLP trimmed its holdings in SolarWinds Co. (NYSE:SWI) by 31.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,109,577 shares of the software maker’s stock after selling 509,241 shares during the period. Wellington Management Group LLP owned about 0.67% of SolarWinds worth $13,859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in SolarWinds by 9.7% during the 3rd quarter. Barclays PLC now owns 20,820 shares of the software maker’s stock valued at $197,000 after acquiring an additional 1,842 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of SolarWinds in the 3rd quarter valued at about $203,000. Teza Capital Management LLC bought a new position in shares of SolarWinds during the third quarter worth about $222,000. Sherbrooke Park Advisers LLC grew its stake in SolarWinds by 35.7% in the third quarter. Sherbrooke Park Advisers LLC now owns 25,324 shares of the software maker’s stock worth $239,000 after purchasing an additional 6,665 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in SolarWinds in the third quarter valued at about $214,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

SolarWinds Stock Down 0.0 %

Shares of SolarWinds stock opened at $11.75 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.93. The business’s 50 day simple moving average is $11.64 and its 200-day simple moving average is $11.89. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 167.79 and a beta of 0.96. SolarWinds Co. has a twelve month low of $8.83 and a twelve month high of $13.43.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $193.31 million for the quarter, compared to analysts’ expectations of $189.74 million. SolarWinds had a return on equity of 6.47% and a net margin of 1.58%. Equities research analysts forecast that SolarWinds Co. will post 0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SWI shares. Truist Financial started coverage on SolarWinds in a report on Wednesday, March 6th. They set a “hold” rating and a $13.00 target price on the stock. Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.80.

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.