Victory Capital Management Inc. Boosts Holdings in SolarWinds Co. (NYSE:SWI)

Victory Capital Management Inc. increased its position in shares of SolarWinds Co. (NYSE:SWI) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,931 shares of the software maker’s stock after buying an additional 12,652 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of SolarWinds worth $1,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWI. Allspring Global Investments Holdings LLC grew its holdings in shares of SolarWinds by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after purchasing an additional 1,001 shares during the period. ProShare Advisors LLC boosted its position in shares of SolarWinds by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker’s stock worth $157,000 after purchasing an additional 1,565 shares during the period. GAMMA Investing LLC increased its holdings in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after purchasing an additional 1,603 shares during the last quarter. Banque Cantonale Vaudoise raised its position in SolarWinds by 1.2% in the second quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock valued at $1,884,000 after purchasing an additional 1,793 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in SolarWinds by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock worth $414,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

Insider Activity at SolarWinds

In other news, insider Jason Bliss sold 135,000 shares of the stock in a transaction dated Monday, November 4th. The shares were 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. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock valued at $4,703,780 over the last quarter. 1.95% of the stock is owned by insiders.

SolarWinds Price Performance

SWI stock opened at $13.29 on Tuesday. The business’s 50-day moving average is $12.99 and its two-hundred day moving average is $12.37. 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 capitalization of $2.27 billion, a P/E ratio of 60.41 and a beta of 0.96. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $14.02.

SolarWinds (NYSE:SWI) last issued its 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. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SWI shares. Robert W. Baird boosted their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Scotiabank started coverage on shares of 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 equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds presently has a consensus rating of “Hold” and an average price target of $14.00.

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.