Martingale Asset Management L P Has $1.62 Million Holdings in SolarWinds Co. (NYSE:SWI)

Martingale Asset Management L P lessened its stake in SolarWinds Co. (NYSE:SWI) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,976 shares of the software maker’s stock after selling 26,704 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of SolarWinds worth $1,618,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares during the last quarter. nVerses Capital LLC acquired a new position in SolarWinds during the second quarter worth approximately $41,000. Allworth Financial LP raised its stake in SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after buying an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of SolarWinds in the second quarter valued at approximately $58,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of SolarWinds by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after acquiring an additional 1,001 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

Wall Street Analyst Weigh In

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

SolarWinds Stock Performance

NYSE:SWI opened at $13.35 on Monday. The stock has a market cap of $2.28 billion, a P/E ratio of 60.68 and a beta of 0.96. The stock has a 50 day simple moving average of $13.03 and a 200 day simple moving average of $12.41. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.02.

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

Insiders Place Their Bets

In other news, Director William G. Bock sold 16,000 shares of SolarWinds stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at $30,262,499.28. This represents a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,000 shares of company stock worth $4,703,780 in the last quarter. 1.95% of the stock is currently owned by corporate insiders.

SolarWinds 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.