Thrivent Financial for Lutherans Purchases 44,268 Shares of SolarWinds Co. (NYSE:SWI)

Thrivent Financial for Lutherans grew its holdings in shares of SolarWinds Co. (NYSE:SWI - Free Report) by 37.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 161,431 shares of the software maker's stock after purchasing an additional 44,268 shares during the period. Thrivent Financial for Lutherans owned approximately 0.09% of SolarWinds worth $2,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its holdings in SolarWinds by 344.7% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker's stock worth $27,000 after purchasing an additional 1,603 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of SolarWinds during the 2nd quarter valued at $41,000. Allworth Financial LP raised its stake in shares of SolarWinds by 732.1% in the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker's stock worth $49,000 after buying an additional 3,331 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SolarWinds in the second quarter valued at $58,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker's stock valued at $66,000 after buying an additional 1,001 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jason Bliss sold 135,000 shares of the business'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 transaction, the insider now directly owns 838,789 shares in the company, valued at $10,921,032.78. The trade was a 13.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock worth $4,703,780 in the last 90 days. Company insiders own 1.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird boosted their price target 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. Scotiabank initiated coverage on shares of SolarWinds in a report on Friday, September 13th. They issued a "sector perform" rating and a $13.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.00.

SolarWinds Trading Down 1.4 %

Shares of NYSE:SWI traded down $0.18 during midday trading on Thursday, reaching $13.14. The company had a trading volume of 640,523 shares, compared to its average volume of 556,130. The company has a fifty day simple moving average of $13.01 and a two-hundred day simple moving average of $12.39. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 59.73 and a beta of 0.96. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.02. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71.

SolarWinds (NYSE:SWI - Get Free Report) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The company's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Research analysts predict that SolarWinds Co. will post 0.74 earnings per share 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.