Jane Street Group LLC Increases Stock Position in SolarWinds Co. (NYSE:SWI)

Jane Street Group LLC raised its holdings in shares of SolarWinds Co. (NYSE:SWI) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,488 shares of the software maker’s stock after purchasing an additional 7,506 shares during the period. Jane Street Group LLC’s holdings in SolarWinds were worth $1,142,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of SolarWinds by 8.7% during 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 buying an additional 461,061 shares during the period. 272 Capital LP purchased a new position in shares of SolarWinds in the 2nd quarter worth $5,032,000. Principal Financial Group Inc. bought a new stake in shares of SolarWinds in the third quarter worth $3,673,000. Finally, AQR Capital Management LLC lifted its holdings in 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 during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Insider Activity

In other SolarWinds news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction on 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 in the company, valued at $10,921,032.78. The trade was a 13.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock worth $4,703,780 over the last ninety days. Corporate insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SWI shares. Scotiabank began coverage on SolarWinds in a research note on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target for the company. Robert W. Baird upped their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Wedbush assumed coverage on shares of SolarWinds in a research note on Thursday, December 19th. They set an “outperform” rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

SolarWinds Trading Down 1.1 %

SolarWinds stock opened at $14.29 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. SolarWinds Co. has a 12-month low of $10.14 and a 12-month high of $14.94. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 64.96 and a beta of 0.96. The firm has a 50 day moving average of $13.62 and a 200 day moving average of $12.76.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million during the quarter, compared to analysts’ expectations of $194.03 million. During the same period in the prior year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts predict that SolarWinds Co. will post 0.74 earnings per share for the current year.

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.