Walleye Capital LLC Takes Position in SolarWinds Co. (NYSE:SWI)

Walleye Capital LLC bought a new position in shares of SolarWinds Co. (NYSE:SWI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,033 shares of the software maker’s stock, valued at approximately $222,000.

A number of other hedge funds have also added to or reduced their stakes in SWI. Dimensional Fund Advisors LP increased its stake in shares of SolarWinds by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock valued at $69,603,000 after acquiring an additional 461,061 shares in the last quarter. 272 Capital LP bought a new position in shares of SolarWinds during the 2nd quarter worth approximately $5,032,000. Principal Financial Group Inc. purchased a new position in shares of SolarWinds in the 3rd quarter worth approximately $3,673,000. AQR Capital Management LLC grew its holdings in shares of SolarWinds by 48.5% in the second quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after acquiring an additional 269,578 shares in the last quarter. Finally, Mcmorgan & Co. LLC purchased a new stake in shares of SolarWinds during the second quarter valued at approximately $2,618,000. 93.96% of the stock is currently owned by institutional investors.

SolarWinds Price Performance

Shares of NYSE SWI opened at $14.41 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.71. The stock has a market cap of $2.46 billion, a PE ratio of 65.50 and a beta of 0.96. The stock has a fifty day moving average of $13.23 and a 200-day moving average of $12.52.

SolarWinds (NYSE:SWI) last issued its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The business had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SWI. Robert W. Baird raised their target price on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Scotiabank began coverage on shares of SolarWinds in a research report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price objective on the stock. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SolarWinds presently has an average rating of “Hold” and a consensus target price of $14.00.

Insider Buying and Selling

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at $30,262,499.28. This represents a 8.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Bliss sold 135,000 shares of SolarWinds 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 sale, the insider now owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. This trade represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,000 shares of company stock valued at $4,703,780. Company insiders own 1.95% of the company’s stock.

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.