Boothbay Fund Management LLC Sells 160,062 Shares of SolarWinds Co. (NYSE:SWI)

Boothbay Fund Management LLC trimmed its stake in SolarWinds Co. (NYSE:SWI) by 73.5% during the 4th quarter, Holdings Channel reports. The firm owned 57,601 shares of the software maker’s stock after selling 160,062 shares during the quarter. Boothbay Fund Management LLC’s holdings in SolarWinds were worth $821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of SolarWinds by 93.3% during the 4th quarter. Wellington Management Group LLP now owns 2,174,522 shares of the software maker’s stock worth $30,987,000 after acquiring an additional 1,049,310 shares during the last quarter. Fisher Asset Management LLC bought a new stake in SolarWinds during the fourth quarter worth about $13,886,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of SolarWinds by 167.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 912,946 shares of the software maker’s stock worth $13,009,000 after purchasing an additional 571,539 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of SolarWinds during the 4th quarter valued at about $7,446,000. Finally, Norges Bank purchased a new position in shares of SolarWinds during the 4th quarter valued at about $7,106,000. 93.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SWI. Truist Financial reaffirmed a “hold” rating and issued a $18.50 target price (up previously from $13.00) on shares of SolarWinds in a research note on Monday, February 10th. Wedbush lowered shares of SolarWinds from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $18.50 in a report on Friday, February 7th. Scotiabank boosted their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Royal Bank of Canada raised their price objective on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird increased their target price on SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

SolarWinds Stock Performance

SolarWinds stock opened at $18.49 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. SolarWinds Co. has a 1-year low of $10.14 and a 1-year high of $18.55. The firm has a market cap of $3.20 billion, a P/E ratio of 29.35 and a beta of 0.88. The firm has a 50-day moving average of $18.40 and a 200-day moving average of $15.74.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. Sell-side analysts expect that SolarWinds Co. will post 0.75 EPS for the current year.

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.