Algert Global LLC bought a new stake in shares of SolarWinds Co. (NYSE:SWI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,406 shares of the software maker’s stock, valued at approximately $354,000.
A number of other hedge funds also recently modified their holdings of the business. Boston Partners purchased a new stake in SolarWinds in the 1st quarter worth about $1,084,000. Scalar Gauge Management LLC purchased a new position in SolarWinds during the fourth quarter valued at approximately $4,918,000. Quadrature Capital Ltd increased its stake in SolarWinds by 33.1% in the 4th quarter. Quadrature Capital Ltd now owns 30,087 shares of the software maker’s stock valued at $376,000 after buying an additional 7,478 shares during the period. 272 Capital LP purchased a new stake in SolarWinds in the 2nd quarter worth approximately $5,032,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of SolarWinds by 28.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock valued at $134,000 after buying an additional 2,343 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.
SolarWinds Stock Up 0.1 %
SWI stock opened at $12.97 on Wednesday. The firm has a market cap of $2.18 billion, a PE ratio of 185.29 and a beta of 0.97. SolarWinds Co. has a 1 year low of $8.83 and a 1 year high of $13.43. The company has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $11.98. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on SWI shares. Scotiabank initiated coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target on the stock. Robert W. Baird cut their price target on SolarWinds from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds presently has an average rating of “Hold” and an average 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.
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