ABS Direct Equity Fund LLC Reduces Position in SolarWinds Co. (NYSE:SWI)

ABS Direct Equity Fund LLC decreased its holdings in shares of SolarWinds Co. (NYSE:SWI) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,000 shares of the software maker’s stock after selling 10,000 shares during the quarter. SolarWinds comprises approximately 3.7% of ABS Direct Equity Fund LLC’s holdings, making the stock its 10th largest position. ABS Direct Equity Fund LLC owned about 0.13% of SolarWinds worth $3,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWI. American Century Companies Inc. grew its stake in shares of SolarWinds by 16.6% in the second quarter. American Century Companies Inc. now owns 64,435 shares of the software maker’s stock worth $776,000 after acquiring an additional 9,186 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in SolarWinds by 8.1% during the second quarter. Thrivent Financial for Lutherans now owns 117,163 shares of the software maker’s stock worth $1,413,000 after purchasing an additional 8,799 shares during the period. Marshall Wace LLP acquired a new stake in SolarWinds during the second quarter valued at approximately $129,000. Squarepoint Ops LLC bought a new position in shares of SolarWinds during the 2nd quarter worth approximately $803,000. Finally, AQR Capital Management LLC lifted its holdings in shares of SolarWinds by 48.5% during the second quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after acquiring an additional 269,578 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Stock Up 0.0 %

SolarWinds stock opened at $14.51 on Tuesday. The stock has a market capitalization of $2.47 billion, a PE ratio of 65.94 and a beta of 0.94. SolarWinds Co. has a twelve month low of $10.14 and a twelve month high of $14.95. The company has a 50 day moving average of $14.07 and a 200-day moving average of $13.12. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. On average, equities research analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SWI. Scotiabank increased their target price on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada boosted their target price on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Wedbush began coverage on SolarWinds in a research note on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Robert W. Baird boosted their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, SolarWinds has an average rating of “Hold” and a consensus target price of $15.50.

Insider Activity at SolarWinds

In other news, Director William G. Bock sold 16,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 88,857 shares in the company, valued at approximately $1,166,692.41. This represents a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the completion of the transaction, the insider now owns 838,789 shares of the company’s stock, valued at $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,000 shares of company stock valued at $4,703,780. Insiders own 1.95% of the company’s stock.

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.