SolarWinds Co. (NYSE:SWI) Sees Large Decrease in Short Interest

SolarWinds Co. (NYSE:SWI) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,410,000 shares, a drop of 19.0% from the January 31st total of 1,740,000 shares. Based on an average trading volume of 850,000 shares, the short-interest ratio is currently 1.7 days. Currently, 2.7% of the shares of the company are short sold.

SolarWinds Stock Performance

SWI traded up $0.02 during trading on Tuesday, hitting $18.36. The stock had a trading volume of 713,159 shares, compared to its average volume of 639,719. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.85 and a quick ratio of 0.71. The company has a 50 day moving average price of $15.73 and a 200-day moving average price of $14.05. SolarWinds has a one year low of $10.14 and a one year high of $18.55. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 29.15 and a beta of 0.94.

SolarWinds (NYSE:SWI) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. As a group, research analysts predict that SolarWinds will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of SolarWinds by 93.3% in the fourth quarter. Wellington Management Group LLP now owns 2,174,522 shares of the software maker’s stock valued at $30,987,000 after buying an additional 1,049,310 shares during the period. Fisher Asset Management LLC acquired a new position in SolarWinds during the fourth quarter worth about $13,886,000. State Street Corp raised its stake in SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after acquiring an additional 800,467 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in SolarWinds by 167.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 912,946 shares of the software maker’s stock worth $13,009,000 after acquiring an additional 571,539 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in SolarWinds during the fourth quarter worth about $7,446,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SWI. Robert W. Baird lifted their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a research report on Monday, February 10th. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Truist Financial reissued a “hold” rating and set a $18.50 target price (up from $13.00) on shares of SolarWinds in a report on Monday, February 10th. Scotiabank raised their price target on SolarWinds from $15.00 to $18.50 and gave the company a “sector perform” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada upped their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds currently has an average rating of “Hold” and a consensus price target of $18.00.

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.