Victory Capital Management Inc. Raises Position in SolarWinds Co. (NYSE:SWI)

Victory Capital Management Inc. increased its position in shares of SolarWinds Co. (NYSE:SWI) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,931 shares of the software maker’s stock after purchasing an additional 12,652 shares during the period. Victory Capital Management Inc.’s holdings in SolarWinds were worth $1,382,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares during the period. nVerses Capital LLC purchased a new position in shares of SolarWinds in the 2nd quarter valued at about $41,000. Allworth Financial LP lifted its stake in shares of SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after purchasing an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SolarWinds during the second quarter worth about $58,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after buying an additional 1,001 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

Insider Buying and Selling

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

SolarWinds Stock Performance

NYSE SWI opened at $13.29 on Tuesday. SolarWinds Co. has a twelve month low of $10.14 and a twelve month high of $14.02. The business’s 50-day moving average price is $12.99 and its 200 day moving average price is $12.37. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.27 billion, a PE ratio of 60.41 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

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

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.