Norges Bank Purchases Shares of 498,665 SolarWinds Co. (NYSE:SWI)

Norges Bank purchased a new stake in shares of SolarWinds Co. (NYSE:SWI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 498,665 shares of the software maker’s stock, valued at approximately $7,106,000.

A number of other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in SolarWinds by 79.3% during the 4th quarter. JPMorgan Chase & Co. now owns 359,266 shares of the software maker’s stock worth $5,120,000 after purchasing an additional 158,902 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of SolarWinds in the fourth quarter valued at about $150,000. Vanguard Group Inc. raised its position in shares of SolarWinds by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,865,366 shares of the software maker’s stock worth $97,831,000 after acquiring an additional 192,198 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of SolarWinds in the fourth quarter worth approximately $124,000. Finally, Sei Investments Co. boosted its holdings in SolarWinds by 88.8% in the fourth quarter. Sei Investments Co. now owns 106,803 shares of the software maker’s stock valued at $1,522,000 after acquiring an additional 50,246 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Trading Up 0.6 %

SWI opened at $18.39 on Wednesday. The company has a fifty day moving average price of $17.95 and a two-hundred day moving average price of $15.13. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $18.55. The company has a market cap of $3.18 billion, a P/E ratio of 29.18 and a beta of 0.88. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85.

SolarWinds (NYSE:SWI) last issued its earnings results on Wednesday, February 12th. The software maker reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. Analysts predict that SolarWinds Co. will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on SWI. Truist Financial restated a “hold” rating and issued a $18.50 price target (up previously from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Scotiabank boosted their target price on shares of SolarWinds from $15.00 to $18.50 and gave the company a “sector perform” rating in a report on Monday, February 10th. Wedbush downgraded SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $18.50 in a report on Friday, February 7th. Royal Bank of Canada upped their target price on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird lifted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.00.

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.