Wellington Management Group LLP Cuts Stake in SolarWinds Co. (NYSE:SWI)

Wellington Management Group LLP reduced its position in shares of SolarWinds Co. (NYSE:SWI) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,125,212 shares of the software maker’s stock after selling 10,821 shares during the quarter. Wellington Management Group LLP’s holdings in SolarWinds were worth $14,684,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of SolarWinds by 8.7% during the second 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. State Street Corp lifted its position in SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after acquiring an additional 800,467 shares in the last quarter. Scalar Gauge Management LLC boosted its stake in SolarWinds by 11.3% during the 2nd quarter. Scalar Gauge Management LLC now owns 834,060 shares of the software maker’s stock valued at $10,050,000 after purchasing an additional 85,000 shares during the last quarter. AQR Capital Management LLC boosted its stake in SolarWinds by 48.5% during the 2nd quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after purchasing an additional 269,578 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SolarWinds by 4.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock worth $7,389,000 after purchasing an additional 25,416 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

SolarWinds Stock Performance

Shares of SWI opened at $14.72 on Friday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 66.91 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 one year low of $10.14 and a one year high of $14.93. The business has a fifty day moving average of $13.35 and a 200 day moving average of $12.57.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.11 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current year.

Insider Buying and Selling at SolarWinds

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the transaction, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at $30,262,499.28. The trade was a 8.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Bliss sold 135,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the completion of the sale, the insider now directly owns 838,789 shares of the company’s stock, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,000 shares of company stock valued at $4,703,780. Insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

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

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.