SolarWinds Corp (NYSE:SWI) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 6,172,400 shares, a growth of 9.6% from the June 30th total of 5,633,500 shares. Approximately 17.0% of the shares of the company are sold short. Based on an average daily volume of 962,900 shares, the short-interest ratio is currently 6.4 days.
Shares of SWI traded down $0.22 during midday trading on Wednesday, hitting $17.02. 282,509 shares of the company traded hands, compared to its average volume of 629,950. The firm has a 50 day simple moving average of $18.12. SolarWinds has a 52 week low of $12.25 and a 52 week high of $21.22. The stock has a market cap of $5.13 billion and a PE ratio of 29.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 1.51.
SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). SolarWinds had a net margin of 67.62% and a return on equity of 8.67%. The company had revenue of $230.60 million for the quarter, compared to the consensus estimate of $226.51 million. SolarWinds’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that SolarWinds will post 0.82 EPS for the current year.
In other SolarWinds news, Director Aurora Co-Invest L.P. Slp sold 2,130,235 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $17.42, for a total value of $37,108,693.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP W. Joseph Kim sold 4,530 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.58, for a total value of $88,697.40. The disclosure for this sale can be found here. Insiders sold a total of 2,657,989 shares of company stock valued at $46,327,624 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SWI. BlackRock Inc. bought a new position in shares of SolarWinds in the 4th quarter valued at about $8,561,000. Legal & General Group Plc bought a new position in shares of SolarWinds in the 4th quarter valued at about $1,118,000. Regentatlantic Capital LLC bought a new position in shares of SolarWinds in the 1st quarter valued at about $215,000. Bank of New York Mellon Corp bought a new position in shares of SolarWinds in the 4th quarter valued at about $896,000. Finally, Meeder Asset Management Inc. bought a new position in shares of SolarWinds in the 1st quarter valued at about $65,000. 93.08% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on SWI shares. Citigroup increased their price target on SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Zacks Investment Research lowered SolarWinds from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine lowered SolarWinds from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group increased their price target on SolarWinds from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Goldman Sachs Group lowered SolarWinds from a “neutral” rating to a “sell” rating and cut their price target for the stock from $20.00 to $17.50 in a research note on Sunday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.43.
SolarWinds Company Profile
SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.
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