Verition Fund Management LLC Takes $171,000 Position in SolarWinds Co. (NYSE:SWI)

Verition Fund Management LLC bought a new stake in SolarWinds Co. (NYSE:SWI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,135 shares of the software maker’s stock, valued at approximately $171,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after buying an additional 1,603 shares during the period. nVerses Capital LLC purchased a new position in SolarWinds in the 2nd quarter worth about $41,000. Allworth Financial LP increased its stake in SolarWinds by 732.1% in the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after buying an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SolarWinds in the 2nd quarter worth about $58,000. Finally, Allspring Global Investments Holdings LLC increased its stake in SolarWinds by 24.6% in the 3rd 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 during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the sale, the director now directly owns 88,857 shares in the company, valued at $1,166,692.41. This trade represents a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 351,000 shares of company stock worth $4,703,780. Corporate insiders own 1.95% of the company’s stock.

SolarWinds Stock Up 0.5 %

NYSE:SWI opened at $14.79 on Tuesday. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.94. The stock has a market capitalization of $2.52 billion, a P/E ratio of 67.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day simple moving average is $13.39 and its 200-day simple moving average is $12.60.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating 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 business had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. During the same period last year, the business earned $0.11 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.

SolarWinds Company 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.