SolarWinds Co. (NYSE:SWI - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $15.20 and last traded at $15.15, with a volume of 89918 shares. The stock had previously closed at $14.99.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Wedbush started coverage on shares of SolarWinds in a report on Thursday, December 19th. They set an "outperform" rating and a $20.00 price objective for the company. 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. Finally, Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, SolarWinds currently has an average rating of "Hold" and an average target price of $15.80.
Check Out Our Latest Stock Report on SWI
SolarWinds Stock Performance
The firm has a 50 day moving average price of $14.29 and a 200 day moving average price of $13.25. The stock has a market cap of $2.60 billion, a PE ratio of 69.41 and a beta of 0.94. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.
Insider Activity at SolarWinds
In related news, CEO Sudhakar Ramakrishna sold 200,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.95% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of SWI. Allspring Global Investments Holdings LLC increased its stake 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 worth $66,000 after buying an additional 1,001 shares during the period. Quantinno Capital Management LP raised its stake in 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 buying an additional 1,184 shares in the last quarter. GAMMA Investing LLC raised its stake in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker's stock valued at $27,000 after buying an additional 1,603 shares in the last quarter. Franklin Resources Inc. raised its stake 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 buying an additional 1,760 shares in the last quarter. Finally, West Tower Group LLC raised its stake in SolarWinds by 38.3% in the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker's stock valued at $94,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company's stock.
About SolarWinds
(
Get 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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