State Street Corp Has $28.62 Million Stake in SolarWinds Co. (NYSE:SWI)

State Street Corp boosted its position in shares of SolarWinds Co. (NYSE:SWI - Free Report) by 57.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,193,026 shares of the software maker's stock after acquiring an additional 800,467 shares during the period. State Street Corp owned 1.29% of SolarWinds worth $28,619,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of SolarWinds during the 3rd quarter valued at $138,000. Quantinno Capital Management LP lifted its position in shares of SolarWinds by 2.5% in the third 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 in the last quarter. Harvey Partners LLC bought a new position in shares of SolarWinds in the third quarter worth about $1,958,000. Verition Fund Management LLC purchased a new stake in shares of SolarWinds during the third quarter worth about $171,000. Finally, Walleye Capital LLC purchased a new position in SolarWinds in the 3rd quarter worth approximately $222,000. Hedge funds and other institutional investors own 93.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SWI. Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Wedbush started coverage on SolarWinds in a report on Thursday. They set an "outperform" rating and a $20.00 target price for the company. Finally, Scotiabank started coverage on SolarWinds in a research note on Friday, September 13th. They set a "sector perform" rating and a $13.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.00.

Insider Buying and Selling at SolarWinds

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,212,171 shares in the company, valued at $30,262,499.28. This represents a 8.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Bliss sold 135,000 shares of the company's stock in a transaction on 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 owns 838,789 shares of the company's stock, valued at $10,921,032.78. This trade represents a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is owned by company insiders.

SolarWinds Trading Up 1.2 %

SolarWinds stock traded up $0.17 during mid-day trading on Friday, hitting $14.45. The company's stock had a trading volume of 1,546,468 shares, compared to its average volume of 568,499. The firm has a market capitalization of $2.46 billion, a PE ratio of 65.68 and a beta of 0.96. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $14.94. The stock's fifty day moving average is $13.48 and its two-hundred day moving average is $12.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million during the quarter, compared to analysts' expectations of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. On average, analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current year.

SolarWinds Company Profile

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.