Southpoint Capital Advisors LP Buys New Stake in SolarWinds Co. (NYSE:SWI)

Southpoint Capital Advisors LP bought a new stake in shares of SolarWinds Co. (NYSE:SWI) in the first quarter, Holdings Channel.com reports. The institutional investor bought 3,500,000 shares of the software maker’s stock, valued at approximately $61,040,000.

A number of other large investors have also recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. lifted its position in SolarWinds by 612.1% during the first quarter. D. E. Shaw & Co. Inc. now owns 156,517 shares of the software maker’s stock valued at $2,730,000 after acquiring an additional 134,536 shares during the last quarter. Morgan Stanley raised its holdings in shares of SolarWinds by 92.1% in the first quarter. Morgan Stanley now owns 58,984 shares of the software maker’s stock worth $1,030,000 after buying an additional 28,281 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of SolarWinds by 775.3% in the first quarter. Holocene Advisors LP now owns 252,722 shares of the software maker’s stock worth $4,407,000 after buying an additional 223,848 shares during the last quarter. Man Group plc raised its holdings in shares of SolarWinds by 38.3% in the first quarter. Man Group plc now owns 100,541 shares of the software maker’s stock worth $1,753,000 after buying an additional 27,860 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of SolarWinds in the first quarter worth $246,000. 95.92% of the stock is owned by institutional investors.

In related news, insider Jason Bliss sold 24,339 shares of the firm’s stock in a transaction on Tuesday, May 18th. The shares were sold at an average price of $16.39, for a total transaction of $398,916.21. Following the sale, the insider now owns 782,835 shares in the company, valued at $12,830,665.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of SolarWinds in a report on Friday, May 14th. They issued a “sell” rating and a $16.00 price target for the company. Morgan Stanley raised their price target on shares of SolarWinds from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, June 24th. TheStreet cut shares of SolarWinds from a “c-” rating to a “d” rating in a report on Tuesday. Finally, Zacks Investment Research cut shares of SolarWinds from a “buy” rating to a “hold” rating in a report on Friday, June 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.45.

Shares of SolarWinds stock traded up $0.05 during trading on Thursday, hitting $10.93. 48,659 shares of the company’s stock were exchanged, compared to its average volume of 938,808. The company has a market cap of $3.46 billion, a PE ratio of 22.67 and a beta of 1.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $16.62. SolarWinds Co. has a 52-week low of $9.80 and a 52-week high of $24.34.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, April 29th. The software maker reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The company had revenue of $256.90 million for the quarter, compared to analyst estimates of $255.96 million. SolarWinds had a net margin of 14.65% and a return on equity of 8.93%. Sell-side analysts forecast that SolarWinds Co. will post 0.76 EPS for the current year.

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, 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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