Tealwood Asset Management Inc. Purchases New Holdings in SolarWinds Corp (NYSE:SWI)

Tealwood Asset Management Inc. purchased a new stake in shares of SolarWinds Corp (NYSE:SWI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 153,986 shares of the software maker’s stock, valued at approximately $2,841,000.

A number of other large investors have also recently modified their holdings of SWI. Vanguard Group Inc. boosted its position in SolarWinds by 4,126.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,358,127 shares of the software maker’s stock valued at $61,588,000 after buying an additional 3,278,676 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in SolarWinds in the 2nd quarter valued at about $35,146,000. FMR LLC boosted its position in SolarWinds by 102.9% in the 1st quarter. FMR LLC now owns 3,696,604 shares of the software maker’s stock valued at $72,158,000 after buying an additional 1,874,976 shares during the period. Panagora Asset Management Inc. purchased a new stake in SolarWinds in the 2nd quarter valued at about $15,392,000. Finally, BlackRock Inc. boosted its position in SolarWinds by 83.9% in the 2nd quarter. BlackRock Inc. now owns 1,180,648 shares of the software maker’s stock valued at $21,654,000 after buying an additional 538,494 shares during the period. Institutional investors own 95.75% of the company’s stock.

Shares of SWI traded up $0.43 during mid-day trading on Thursday, hitting $19.39. The company’s stock had a trading volume of 13,670 shares, compared to its average volume of 526,143. The company’s 50-day moving average is $18.51 and its 200-day moving average is $18.32. SolarWinds Corp has a 52-week low of $12.25 and a 52-week high of $21.22. The firm has a market capitalization of $5.97 billion and a price-to-earnings ratio of 33.89. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.72.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). SolarWinds had a return on equity of 8.56% and a net margin of 67.62%. The business had revenue of $230.60 million during the quarter, compared to analysts’ expectations of $226.51 million. The firm’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts predict that SolarWinds Corp will post 0.74 earnings per share for the current fiscal year.

SWI has been the subject of several research reports. Bank of America cut shares of SolarWinds from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Zacks Investment Research cut shares of SolarWinds from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. ValuEngine cut shares of SolarWinds from a “sell” rating to a “strong sell” rating in a research report on Monday. Jefferies Financial Group lowered their price target on shares of SolarWinds from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Finally, Goldman Sachs Group cut shares of SolarWinds from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $20.00 to $17.50 in a research report on Sunday, June 30th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.37.

SolarWinds Profile

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.

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Institutional Ownership by Quarter for SolarWinds (NYSE:SWI)

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