SolarWinds (NYSE:SWI) Given New $16.00 Price Target at Royal Bank of Canada

SolarWinds (NYSE:SWI) had its price objective hoisted by Royal Bank of Canada from $13.00 to $16.00 in a research report released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the software maker’s stock.

SWI has been the topic of a number of other research reports. Wedbush assumed coverage on SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, SolarWinds currently has a consensus rating of “Hold” and a consensus target price of $15.50.

SolarWinds Price Performance

Shares of NYSE SWI opened at $14.35 on Tuesday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 65.22 and a beta of 0.94. The stock has a fifty day simple moving average of $13.97 and a two-hundred day simple moving average of $13.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94.

SolarWinds (NYSE:SWI) last announced 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 business 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 firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. Analysts anticipate that SolarWinds will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In related 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 value of $1,757,700.00. Following the completion of the transaction, the insider now directly owns 838,789 shares of the company’s stock, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the sale, 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. Insiders have sold a total of 351,000 shares of company stock valued at $4,703,780 in the last quarter. Insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SWI. GAMMA Investing LLC boosted its position in shares of SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares in the last quarter. Allworth Financial LP increased its stake in SolarWinds by 732.1% during the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after purchasing an additional 3,331 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 last quarter. West Tower Group LLC increased its position in shares of SolarWinds by 38.3% during the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock valued at $94,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in SolarWinds by 74.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 9,425 shares of the software maker’s stock worth $114,000 after acquiring an additional 4,025 shares during the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

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.