Geode Capital Management LLC Purchases 16,730 Shares of SolarWinds Co. (NYSE:SWI)

Geode Capital Management LLC grew its stake in shares of SolarWinds Co. (NYSE:SWI) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,290,044 shares of the software maker’s stock after buying an additional 16,730 shares during the period. Geode Capital Management LLC owned 0.76% of SolarWinds worth $16,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SWI. GAMMA Investing LLC lifted its holdings in shares of SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after acquiring an additional 1,603 shares during the last quarter. nVerses Capital LLC purchased a new stake in SolarWinds during the second quarter valued at about $41,000. Allworth Financial LP raised its position in SolarWinds by 732.1% during the third 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 lifted its stake in SolarWinds by 24.6% during the third 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 last quarter. Finally, West Tower Group LLC boosted its holdings in shares of SolarWinds by 38.3% in the 3rd 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 in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SWI. Scotiabank assumed 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 for the company. Robert W. Baird upped their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Wedbush started coverage on shares of SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, SolarWinds has a consensus rating of “Hold” and a consensus target price of $15.00.

Insider Activity at SolarWinds

In related news, CEO Sudhakar Ramakrishna sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares in the company, valued at $30,262,499.28. The trade was a 8.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the sale, the director now owns 88,857 shares in the company, 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. Insiders sold 351,000 shares of company stock worth $4,703,780 over the last three months. 1.95% of the stock is owned by corporate insiders.

SolarWinds Trading Down 1.1 %

SWI stock opened at $14.29 on Monday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 64.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.94. The business has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $12.76.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) 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 period in the prior year, the company earned $0.11 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Research analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

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.