Sanctuary Advisors LLC Buys New Position in SolarWinds Co. (NYSE:SWI)

Sanctuary Advisors LLC bought a new stake in shares of SolarWinds Co. (NYSE:SWI) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 20,703 shares of the software maker’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SWI. nVerses Capital LLC bought a new stake in shares of SolarWinds during the 2nd quarter valued at about $41,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SolarWinds during the 2nd quarter valued at about $58,000. Ameritas Investment Partners Inc. bought a new position in SolarWinds in the first quarter worth approximately $62,000. Innealta Capital LLC bought a new position in SolarWinds in the second quarter worth approximately $79,000. Finally, CWM LLC boosted its holdings in SolarWinds by 282.6% in the second quarter. CWM LLC now owns 8,980 shares of the software maker’s stock worth $108,000 after acquiring an additional 6,633 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Up 1.2 %

SWI stock opened at $13.22 on Friday. SolarWinds Co. has a twelve month low of $8.83 and a twelve month high of $13.45. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average is $12.72 and its 200-day moving average is $12.02. The firm has a market capitalization of $2.22 billion, a PE ratio of 188.86 and a beta of 0.97.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, August 1st. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. SolarWinds had a return on equity of 7.14% and a net margin of 2.96%. The company had revenue of $193.30 million for the quarter, compared to analyst estimates of $188.67 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts expect that SolarWinds Co. will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SWI has been the topic of several recent research reports. Robert W. Baird cut their price target on SolarWinds from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Scotiabank initiated coverage on SolarWinds in a report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds currently has a consensus rating of “Hold” and an average price target of $13.80.

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.