SolarWinds Co. (NYSE:SWI) Short Interest Down 21.9% in October

SolarWinds Co. (NYSE:SWI) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,930,000 shares, a decrease of 21.9% from the October 15th total of 2,470,000 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily volume of 514,500 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

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

Insider Transactions at SolarWinds

In other news, insider Jason Bliss sold 135,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the completion of the transaction, the insider now directly owns 838,789 shares in the company, valued at $10,921,032.78. This represents a 13.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now owns 88,857 shares of the company’s stock, valued at $1,166,692.41. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,000 shares of company stock worth $4,703,780. Corporate insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of 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 purchasing an additional 800,467 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SolarWinds by 8.7% in 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 buying an additional 461,061 shares in the last quarter. 272 Capital LP acquired a new position in shares of SolarWinds in the 2nd quarter valued at $5,032,000. Principal Financial Group Inc. acquired a new position in SolarWinds in the 3rd quarter valued at about $3,673,000. Finally, AQR Capital Management LLC grew its stake in shares of SolarWinds by 48.5% during the 2nd quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock worth $9,869,000 after purchasing an additional 269,578 shares during the period. 93.96% of the stock is currently owned by institutional investors.

SolarWinds Stock Performance

Shares of NYSE:SWI traded down $0.26 during midday trading on Friday, reaching $13.18. 328,388 shares of the company traded hands, compared to its average volume of 700,161. The firm’s fifty day moving average price is $12.90 and its two-hundred day moving average price is $12.31. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 59.91 and a beta of 0.96. SolarWinds has a 12 month low of $10.14 and a 12 month high of $14.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $194.03 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that SolarWinds will post 0.74 earnings per share for the current year.

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.