SolarWinds (NYSE:SWI) Rating Increased to Hold at Zacks Investment Research

SolarWinds (NYSE:SWI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “SolarWinds Corporation designs and develops information technology management software. The Company offers solutions consisting of network performance monitoring, configuration, virtualization, database management, hosted logs, security and configuration. SolarWinds Corporation is based in TX, United States. “

SWI has been the topic of a number of other reports. Truist raised SolarWinds from a “sell” rating to a “hold” rating and decreased their price target for the company from $26.00 to $14.00 in a report on Monday, December 21st. JMP Securities lifted their target price on SolarWinds from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 28th. Morgan Stanley lowered their price target on SolarWinds from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 6th. Robert W. Baird lowered shares of SolarWinds from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $15.00 in a report on Monday, December 21st. Finally, TheStreet upgraded shares of SolarWinds from a “d+” rating to a “c-” rating in a research report on Friday, February 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $18.75.

SWI opened at $15.99 on Tuesday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 133.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s fifty day moving average is $16.13 and its 200 day moving average is $19.32. SolarWinds has a fifty-two week low of $11.50 and a fifty-two week high of $24.34.

In other news, insider Usa Investors Venture I. Hermes sold 57,813 shares of the stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $21.97, for a total transaction of $1,270,151.61. Following the transaction, the insider now owns 991,894 shares of the company’s stock, valued at approximately $21,791,911.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thoma Bravo Ugp, Llc sold 5,839,157 shares of SolarWinds stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $21.97, for a total value of $128,286,279.29. The disclosure for this sale can be found here. Insiders have sold 8,265,859 shares of company stock valued at $181,600,922 over the last three months. Insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in shares of SolarWinds by 0.4% in the first quarter. First Trust Advisors LP now owns 259,763 shares of the software maker’s stock valued at $5,071,000 after buying an additional 954 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of SolarWinds in the third quarter valued at approximately $31,000. BNP Paribas Arbitrage SA boosted its stake in shares of SolarWinds by 14.3% in the third quarter. BNP Paribas Arbitrage SA now owns 14,570 shares of the software maker’s stock worth $296,000 after acquiring an additional 1,821 shares during the last quarter. Swiss National Bank raised its stake in SolarWinds by 1.7% in the 3rd quarter. Swiss National Bank now owns 141,300 shares of the software maker’s stock valued at $2,874,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SolarWinds by 3.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,136 shares of the software maker’s stock valued at $1,549,000 after purchasing an additional 2,579 shares in the last quarter. 95.83% of the stock is owned by institutional investors.

About SolarWinds

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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