SolarWinds Co. (NYSE:SWI) Short Interest Down 12.3% in January

SolarWinds Co. (NYSE:SWI - Get Free Report) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,920,000 shares, a drop of 12.3% from the December 31st total of 2,190,000 shares. Based on an average daily trading volume, of 560,400 shares, the short-interest ratio is presently 3.4 days. Approximately 3.9% of the company's stock are sold short.

Insider Activity

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value 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 trade represents a 8.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC bought a new stake in SolarWinds in the fourth quarter worth $13,886,000. State Street Corp lifted its stake in SolarWinds by 57.5% in the third quarter. State Street Corp now owns 2,193,026 shares of the software maker's stock worth $28,619,000 after purchasing an additional 800,467 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in SolarWinds in the fourth quarter worth $7,446,000. Principal Financial Group Inc. bought a new position in shares of SolarWinds during the third quarter valued at about $3,673,000. Finally, Harvey Partners LLC bought a new position in shares of SolarWinds during the third quarter valued at about $1,958,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

SolarWinds Stock Performance

Shares of NYSE:SWI traded up $0.23 during mid-day trading on Wednesday, reaching $15.22. The company had a trading volume of 182,368 shares, compared to its average volume of 388,639. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 69.34 and a beta of 0.94. The company's 50-day moving average price is $14.29 and its 200-day moving average price is $13.25. SolarWinds has a one year low of $10.14 and a one year high of $15.29.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SWI shares. Royal Bank of Canada raised their price target on shares of SolarWinds from $13.00 to $16.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Scotiabank lifted their target price on shares of SolarWinds from $13.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Robert W. Baird lifted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Finally, Wedbush started coverage on shares of SolarWinds in a research report on Thursday, December 19th. They set an "outperform" rating and a $20.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.80.

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.