Principal Financial Group Inc. acquired a new stake in SolarWinds Co. (NYSE:SWI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 281,427 shares of the software maker's stock, valued at approximately $3,673,000. Principal Financial Group Inc. owned 0.17% of SolarWinds at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in SWI. 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 worth $69,603,000 after buying an additional 461,061 shares in the last quarter. 272 Capital LP purchased a new position in shares of SolarWinds in the 2nd quarter valued at $5,032,000. AQR Capital Management LLC lifted 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 last quarter. Mcmorgan & Co. LLC bought a new stake in SolarWinds during the second quarter valued at about $2,618,000. Finally, Dark Forest Capital Management LP purchased a new position in SolarWinds in the second quarter valued at about $1,167,000. 93.96% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director William G. Bock sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total transaction of $210,080.00. Following the transaction, the director now directly owns 88,857 shares in the company, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares in the company, 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. Over the last 90 days, insiders have sold 351,000 shares of company stock worth $4,703,780. 1.95% of the stock is owned by corporate insiders.
SolarWinds Stock Performance
SolarWinds stock traded up $0.21 during mid-day trading on Friday, reaching $13.27. 382,601 shares of the company traded hands, compared to its average volume of 557,137. The firm's fifty day moving average is $12.98 and its two-hundred day moving average is $12.35. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 60.30 and a beta of 0.96. SolarWinds Co. has a fifty-two week low of $10.14 and a fifty-two week high of $14.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71.
SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities research analysts expect that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently commented on SWI shares. Scotiabank began coverage on shares of SolarWinds in a research note on Friday, September 13th. They set a "sector perform" rating and a $13.00 price objective for the company. Robert W. Baird upped their price target on SolarWinds from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds presently has a consensus rating of "Hold" and an average target price of $14.00.
Read Our Latest Analysis on SolarWinds
About SolarWinds
(
Free Report)
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.
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