Amalgamated Bank Purchases 14,120 Shares of SolarWinds Co. (NYSE:SWI)

Amalgamated Bank increased its position in SolarWinds Co. (NYSE:SWI) by 842.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,796 shares of the software maker’s stock after acquiring an additional 14,120 shares during the quarter. Amalgamated Bank’s holdings in SolarWinds were worth $206,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Rice Hall James & Associates LLC boosted its position in shares of SolarWinds by 2.1% in the third quarter. Rice Hall James & Associates LLC now owns 149,245 shares of the software maker’s stock valued at $1,948,000 after acquiring an additional 3,039 shares during the period. New York State Teachers Retirement System boosted its position in shares of SolarWinds by 239.8% in the third quarter. New York State Teachers Retirement System now owns 15,566 shares of the software maker’s stock valued at $203,000 after acquiring an additional 10,985 shares during the period. State of Alaska Department of Revenue bought a new position in shares of SolarWinds in the third quarter valued at approximately $403,000. Wealth Enhancement Advisory Services LLC bought a new stake in SolarWinds during the third quarter valued at approximately $191,000. Finally, Louisiana State Employees Retirement System bought a new stake in SolarWinds during the third quarter valued at approximately $342,000. 93.96% of the stock is currently owned by institutional investors.

SolarWinds Trading Down 1.9 %

SWI stock opened at $13.18 on Monday. The company has a market capitalization of $2.25 billion, a PE ratio of 59.91 and a beta of 0.96. SolarWinds Co. has a one year low of $10.14 and a one year high of $14.02. The company’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $12.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71.

SolarWinds (NYSE:SWI) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, analysts predict that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the transaction, the insider now directly owns 838,789 shares of the company’s stock, valued at $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,212,171 shares in the company, 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. Over the last ninety days, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Robert W. Baird lifted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.