JPMorgan Chase & Co. Reduces Holdings in SolarWinds Co. (NYSE:SWI)

JPMorgan Chase & Co. lessened its position in SolarWinds Co. (NYSE:SWI) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,364 shares of the software maker’s stock after selling 10,305 shares during the quarter. JPMorgan Chase & Co. owned 0.12% of SolarWinds worth $2,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SWI. Allspring Global Investments Holdings LLC boosted its position in shares of SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after buying an additional 1,001 shares during the period. Quantinno Capital Management LP lifted its stake in shares of SolarWinds by 2.5% during the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock worth $629,000 after acquiring an additional 1,184 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares during the period. Franklin Resources Inc. grew its position in 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 acquiring an additional 1,760 shares during the last quarter. Finally, West Tower Group LLC increased its stake in SolarWinds by 38.3% in the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares during the period. 93.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction that occurred 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 owns 838,789 shares of the company’s stock, valued at $10,921,032.78. The trade was a 13.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total transaction of $210,080.00. Following the sale, the director now directly owns 88,857 shares of the company’s stock, valued at $1,166,692.41. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock worth $4,703,780. 1.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SWI. Robert W. Baird boosted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wedbush started coverage on shares of SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.00.

SolarWinds Stock Up 0.2 %

NYSE:SWI opened at $14.08 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $2.40 billion, a PE ratio of 63.99 and a beta of 0.94. The company has a 50-day moving average of $13.95 and a 200 day moving average of $13.02. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.94.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. As a group, research analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

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.