Clearline Capital LP Reduces Stock Holdings in SolarWinds Co. (NYSE:SWI)

Clearline Capital LP reduced its stake in shares of SolarWinds Co. (NYSE:SWI) by 17.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,383 shares of the software maker’s stock after selling 35,730 shares during the quarter. Clearline Capital LP’s holdings in SolarWinds were worth $2,342,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of SolarWinds in the fourth quarter valued at approximately $98,000. Northern Trust Corp boosted its position in shares of SolarWinds by 15.3% during the 4th quarter. Northern Trust Corp now owns 692,069 shares of the software maker’s stock worth $9,862,000 after purchasing an additional 91,756 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in SolarWinds during the 4th quarter worth about $421,000. Price T Rowe Associates Inc. MD grew its holdings in shares of SolarWinds by 11.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 199,610 shares of the software maker’s stock valued at $2,846,000 after purchasing an additional 20,094 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of SolarWinds in the fourth quarter valued at $598,000. 93.96% of the stock is owned by hedge funds and other institutional investors.

SolarWinds Price Performance

Shares of SWI stock opened at $18.49 on Thursday. The business’s fifty day moving average is $18.43 and its 200-day moving average is $15.95. The stock has a market cap of $3.20 billion, a PE ratio of 29.35 and a beta of 0.88. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on SWI shares. Wedbush lowered shares of SolarWinds from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Truist Financial reiterated a “hold” rating and set a $18.50 target price (up from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Scotiabank raised their price target on SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Finally, Robert W. Baird raised their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock 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.