Millennium Management LLC Sells 178,237 Shares of SolarWinds Co. (NYSE:SWI)

Millennium Management LLC lessened its holdings in SolarWinds Co. (NYSE:SWI - Free Report) by 37.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,895 shares of the software maker's stock after selling 178,237 shares during the period. Millennium Management LLC owned 0.17% of SolarWinds worth $3,566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of SolarWinds in the 2nd quarter valued at $41,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SolarWinds in the 2nd quarter valued at $58,000. Ameritas Investment Partners Inc. acquired a new stake in shares of SolarWinds in the 1st quarter valued at $62,000. Innealta Capital LLC acquired a new stake in shares of SolarWinds in the 2nd quarter valued at $79,000. Finally, CWM LLC lifted its stake in shares of SolarWinds by 282.6% in the 2nd quarter. CWM LLC now owns 8,980 shares of the software maker's stock valued at $108,000 after purchasing an additional 6,633 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company's stock.

Analysts Set New Price Targets

SWI has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of SolarWinds in a report on Friday, September 13th. They issued a "sector perform" rating and a $13.00 target price on the stock. Robert W. Baird dropped their target price on shares of SolarWinds from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.80.

SolarWinds Stock Performance

Shares of NYSE:SWI traded down $0.33 on Monday, hitting $12.87. 543,860 shares of the company were exchanged, compared to its average volume of 550,334. The company's 50 day moving average price is $12.67 and its two-hundred day moving average price is $12.00. SolarWinds Co. has a one year low of $8.83 and a one year high of $13.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 183.79 and a beta of 0.97.

SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. SolarWinds had a net margin of 2.96% and a return on equity of 7.14%. The company had revenue of $193.30 million for the quarter, compared to the consensus estimate of $188.67 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business's revenue was up 4.5% compared to the same quarter last year. Research analysts expect that SolarWinds Co. will post 0.71 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.