Scalar Gauge Management LLC increased its stake in shares of SolarWinds Co. (NYSE:SWI - Free Report) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,918 shares of the software maker's stock after buying an additional 75,000 shares during the quarter. SolarWinds comprises approximately 3.7% of Scalar Gauge Management LLC's investment portfolio, making the stock its 12th biggest holding. Scalar Gauge Management LLC owned 0.33% of SolarWinds worth $7,908,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP boosted its holdings in shares of SolarWinds by 2.5% in the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker's stock valued at $629,000 after acquiring an additional 1,184 shares during the last quarter. Franklin Resources Inc. boosted its holdings in SolarWinds by 6.2% in the third quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker's stock valued at $386,000 after purchasing an additional 1,760 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in SolarWinds by 75.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker's stock worth $76,000 after purchasing an additional 2,279 shares during the period. Pacer Advisors Inc. raised its stake in shares of SolarWinds by 18.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker's stock valued at $235,000 after buying an additional 2,574 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of SolarWinds in the 4th quarter valued at about $38,000. 93.96% of the stock is owned by institutional investors and hedge funds.
SolarWinds Price Performance
SWI traded down $0.05 during midday trading on Friday, hitting $18.37. 1,858,709 shares of the company traded hands, compared to its average volume of 769,295. The business has a 50 day simple moving average of $17.66 and a two-hundred day simple moving average of $14.96. SolarWinds Co. has a 52-week low of $10.14 and a 52-week high of $18.55. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 29.14 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 - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. On average, equities analysts forecast that SolarWinds Co. will post 0.75 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts recently commented on SWI shares. Royal Bank of Canada raised 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. Scotiabank raised their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Wedbush cut shares of SolarWinds from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Truist Financial reissued a "hold" rating and set a $18.50 price target (up from $13.00) on shares of SolarWinds in a report on Monday, February 10th. Finally, Robert W. Baird upped their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.00.
Check Out Our Latest Research Report 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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