SolarWinds Co. (NYSE:SWI) Stock Position Decreased by Harber Asset Management LLC

Harber Asset Management LLC trimmed its position in SolarWinds Co. (NYSE:SWI) by 45.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 746,815 shares of the software maker’s stock after selling 633,831 shares during the quarter. SolarWinds makes up approximately 2.9% of Harber Asset Management LLC’s portfolio, making the stock its 18th largest position. Harber Asset Management LLC owned approximately 0.44% of SolarWinds worth $9,746,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harvey Partners LLC bought a new position in SolarWinds in the 3rd quarter valued at $1,958,000. Verition Fund Management LLC acquired a new position in shares of SolarWinds in the 3rd quarter valued at about $171,000. Walleye Capital LLC bought a new stake in SolarWinds during the 3rd quarter worth approximately $222,000. Public Sector Pension Investment Board bought a new position in shares of SolarWinds during the 3rd quarter valued at approximately $1,496,000. Finally, FMR LLC boosted its position in shares of SolarWinds by 28.6% in the third quarter. FMR LLC now owns 106,286 shares of the software maker’s stock valued at $1,387,000 after acquiring an additional 23,623 shares during the period. Institutional investors own 93.96% of the company’s stock.

SolarWinds Stock Performance

SWI stock opened at $13.57 on Tuesday. The company has a market cap of $2.31 billion, a P/E ratio of 61.68 and a beta of 0.96. 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 Co. has a twelve month low of $10.14 and a twelve month high of $14.02. The business’s fifty day moving average is $13.03 and its 200-day moving average is $12.41.

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

Analyst Ratings Changes

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

Insider Activity at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is owned by insiders.

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.