SolarWinds Co. (NYSE:SWI) Position Reduced by Scalar Gauge Management LLC

Scalar Gauge Management LLC trimmed its stake in SolarWinds Co. (NYSE:SWI) by 42.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 479,918 shares of the software maker’s stock after selling 354,142 shares during the period. SolarWinds comprises 3.3% of Scalar Gauge Management LLC’s holdings, making the stock its 9th biggest holding. Scalar Gauge Management LLC owned about 0.28% of SolarWinds worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SWI. GAMMA Investing LLC raised its stake in shares of SolarWinds by 344.7% during 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 in the last quarter. nVerses Capital LLC purchased a new stake in shares of SolarWinds in the 2nd quarter worth $41,000. Allworth Financial LP lifted its holdings in shares of SolarWinds by 732.1% in the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after buying an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SolarWinds during the 2nd quarter worth $58,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after buying an additional 1,001 shares during the period. 93.96% of the stock is currently owned by institutional investors.

Insider Transactions at SolarWinds

In other news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 88,857 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 351,000 shares of company stock valued at $4,703,780. Corporate insiders own 1.95% of the company’s stock.

SolarWinds Price Performance

Shares of SWI stock opened at $13.35 on Friday. The stock’s 50-day moving average is $13.02 and its 200 day moving average is $12.39. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $14.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $2.28 billion, a P/E ratio of 60.82 and a beta of 0.96.

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

Analyst Ratings Changes

A number of research firms recently weighed in on SWI. Scotiabank initiated coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price objective for the company. Robert W. Baird upped their price target 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, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.00.

SolarWinds Company 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.