State of Alaska Department of Revenue Makes New $403,000 Investment in SolarWinds Co. (NYSE:SWI)

State of Alaska Department of Revenue acquired a new stake in SolarWinds Co. (NYSE:SWI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,935 shares of the software maker’s stock, valued at approximately $403,000.

A number of other hedge funds have also modified their holdings of SWI. Boston Partners purchased a new position in SolarWinds during the 1st quarter worth $1,084,000. Brandes Investment Partners LP grew its holdings in shares of SolarWinds by 12.3% during the second quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock worth $4,424,000 after buying an additional 40,643 shares during the last quarter. 272 Capital LP purchased a new stake in SolarWinds during the 2nd quarter valued at approximately $5,032,000. Allspring Global Investments Holdings LLC lifted its position in SolarWinds by 28.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock worth $134,000 after acquiring an additional 2,343 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of SolarWinds by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock valued at $69,603,000 after purchasing an additional 461,061 shares during the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

SolarWinds Stock Performance

NYSE SWI opened at $13.58 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.32 billion, a PE ratio of 61.73 and a beta of 0.96. The business’s 50-day moving average price is $12.81 and its 200 day moving average price is $12.21. SolarWinds Co. has a twelve month low of $10.14 and a twelve month high of $14.02.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The company had revenue of $200.03 million for the quarter, compared to analyst estimates of $194.03 million. During the same quarter last year, the business earned $0.11 EPS. SolarWinds’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that SolarWinds Co. will post 0.74 earnings per share for the current year.

Insider Transactions at SolarWinds

In other news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the completion of the sale, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sudhakar Ramakrishna sold 200,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total value of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock worth $4,703,780 in the last three months. 1.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SWI. 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 research note on Friday, November 1st. Scotiabank initiated coverage on shares of SolarWinds in a research report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.00.

SolarWinds 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.