SolarWinds Co. (NYSE:SWI - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 1,410,000 shares, a decrease of 19.0% from the January 31st total of 1,740,000 shares. Based on an average trading volume of 850,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.7% of the shares of the stock are sold short.
Institutional Investors Weigh In On SolarWinds
Several institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker's stock valued at $66,000 after acquiring an additional 1,001 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SolarWinds by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,966 shares of the software maker's stock valued at $441,000 after acquiring an additional 1,105 shares during the period. Quantinno Capital Management LP boosted its holdings in SolarWinds by 2.5% during 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 period. Sterling Capital Management LLC boosted its holdings in SolarWinds by 808.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker's stock valued at $25,000 after acquiring an additional 1,552 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in SolarWinds by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker's stock valued at $386,000 after acquiring an additional 1,760 shares during the period. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on SWI. Wedbush lowered SolarWinds from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Robert W. Baird upped their target price on SolarWinds from $15.00 to $18.50 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Royal Bank of Canada upped their target price on SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Truist Financial restated a "hold" rating and issued a $18.50 target price (up from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Finally, Scotiabank upped their target price on SolarWinds from $15.00 to $18.50 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.00.
Check Out Our Latest Research Report on SWI
SolarWinds Price Performance
Shares of SWI traded up $0.04 during midday trading on Friday, reaching $18.33. The stock had a trading volume of 1,195,021 shares, compared to its average volume of 652,071. The company's 50-day moving average is $16.04 and its 200 day moving average is $14.19. SolarWinds has a 12-month low of $10.14 and a 12-month high of $18.55. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 29.09 and a beta of 0.93.
SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. On average, equities analysts predict that SolarWinds will post 0.75 EPS for the current fiscal year.
SolarWinds Company Profile
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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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