SolarWinds (NYSE:SWI) Sets New 12-Month High – Here’s What Happened

SolarWinds Co. (NYSE:SWI) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.20 and last traded at $15.15, with a volume of 89918 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SWI. Royal Bank of Canada boosted their target price on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Robert W. Baird upped their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating in a report on Friday. Finally, Scotiabank upped their price target on shares of SolarWinds from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds has an average rating of “Hold” and an average price target of $15.80.

SolarWinds Price Performance

The firm has a market cap of $3.13 billion, a P/E ratio of 83.37 and a beta of 0.94. The stock’s 50-day moving average is $14.37 and its 200-day moving average is $13.28. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SWI. GAMMA Investing LLC increased its holdings in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after buying an additional 1,603 shares during the period. R Squared Ltd acquired a new position in SolarWinds in the fourth quarter worth about $38,000. Allworth Financial LP lifted its stake in SolarWinds by 732.1% during the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after purchasing an additional 3,331 shares during the period. 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 valued at $66,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of SolarWinds by 75.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker’s stock worth $76,000 after buying an additional 2,279 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

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.