Atria Investments Inc Reduces Holdings in SolarWinds Co. (NYSE:SWI)

Atria Investments Inc lowered its position in SolarWinds Co. (NYSE:SWI) by 22.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,356 shares of the software maker’s stock after selling 6,796 shares during the quarter. Atria Investments Inc’s holdings in SolarWinds were worth $305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SWI. Principal Financial Group Inc. purchased a new position in shares of SolarWinds in the third quarter worth about $3,673,000. Amalgamated Bank boosted its holdings in SolarWinds by 842.5% in the 3rd quarter. Amalgamated Bank now owns 15,796 shares of the software maker’s stock worth $206,000 after buying an additional 14,120 shares during the period. Rice Hall James & Associates LLC grew its stake in SolarWinds by 2.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 149,245 shares of the software maker’s stock valued at $1,948,000 after buying an additional 3,039 shares in the last quarter. New York State Teachers Retirement System raised its holdings in SolarWinds by 239.8% during the 3rd 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. Finally, State of Alaska Department of Revenue purchased a new stake in shares of SolarWinds during the third quarter worth $403,000. 93.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SWI. Robert W. Baird lifted their price target on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Scotiabank began coverage on SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SolarWinds presently has a consensus rating of “Hold” and an average target price of $14.00.

SolarWinds Price Performance

NYSE:SWI opened at $13.27 on Friday. SolarWinds Co. has a 52-week low of $10.14 and a 52-week high of $14.02. The stock has a fifty day moving average of $12.98 and a 200 day moving average of $12.35. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 60.30 and a beta of 0.96.

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

Insiders Place Their Bets

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction dated 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 sale, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now owns 88,857 shares in the company, valued at $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,000 shares of company stock valued at $4,703,780 in the last quarter. Corporate insiders own 1.95% of the company’s stock.

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.