SolarWinds Co. (NYSE:SWI) Shares Sold by PDT Partners LLC

PDT Partners LLC lowered its holdings in SolarWinds Co. (NYSE:SWI) by 53.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,849 shares of the software maker’s stock after selling 35,500 shares during the quarter. PDT Partners LLC’s holdings in SolarWinds were worth $403,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SWI. GAMMA Investing LLC increased its position in shares of SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after acquiring an additional 1,603 shares in the last quarter. nVerses Capital LLC acquired a new stake in SolarWinds during the 2nd quarter valued at $41,000. Allworth Financial LP grew its holdings in SolarWinds by 732.1% during the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after purchasing an additional 3,331 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SolarWinds during the 2nd quarter valued at $58,000. Finally, Allspring Global Investments Holdings LLC grew 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 purchasing an additional 1,001 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SWI has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on shares of SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target for the company. Robert W. Baird raised their price target on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.00.

Insiders Place Their Bets

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 trade represents a 8.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the completion of the transaction, the director now owns 88,857 shares in the company, valued at approximately $1,166,692.41. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,000 shares of company stock valued at $4,703,780 in the last ninety days. Corporate insiders own 1.95% of the company’s stock.

SolarWinds Price Performance

Shares of SWI stock opened at $13.70 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of 62.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.02. The firm has a fifty day moving average of $13.04 and a two-hundred day moving average of $12.42.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million during the quarter, compared to analyst estimates of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. As a group, research analysts anticipate that SolarWinds Co. will post 0.74 earnings per share for the current fiscal year.

About SolarWinds

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.