Short Interest in SolarWinds Co. (NYSE:SWI) Decreases By 21.9%

SolarWinds Co. (NYSE:SWI) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,930,000 shares, a decrease of 21.9% from the October 15th total of 2,470,000 shares. Based on an average daily trading volume, of 514,500 shares, the days-to-cover ratio is currently 3.8 days. Approximately 4.0% of the shares of the stock are short sold.

Insider Buying and Selling

In other SolarWinds news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total value of $1,757,700.00. Following the transaction, the insider now directly owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the completion of the sale, the director now owns 88,857 shares of the company’s stock, valued at $1,166,692.41. The trade was 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 worth $4,703,780 in the last ninety days. 1.95% of the stock is owned by insiders.

Institutional Investors Weigh In On SolarWinds

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners bought a new stake in shares of SolarWinds during the first quarter worth $1,084,000. Brandes Investment Partners LP increased its position in shares of SolarWinds by 12.3% during the second quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock worth $4,424,000 after acquiring an additional 40,643 shares during the period. 272 Capital LP bought a new stake in shares of SolarWinds during the second quarter valued at approximately $5,032,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SolarWinds by 28.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock valued at $134,000 after purchasing an additional 2,343 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in SolarWinds by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after purchasing an additional 461,061 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price target 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. Scotiabank assumed coverage on SolarWinds in a research note on Friday, September 13th. They set a “sector perform” rating and a $13.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

SolarWinds Price Performance

NYSE SWI traded down $0.26 during trading hours on Friday, reaching $13.18. The company’s stock had a trading volume of 328,380 shares, compared to its average volume of 560,004. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 59.91 and a beta of 0.96. The firm’s 50-day moving average price is $12.90 and its 200-day moving average price is $12.29. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.02.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that SolarWinds will post 0.74 EPS for the current fiscal year.

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.