Insider Selling: Paul Strelzick Sells 18,000 Shares of SolarWinds Stock (SWI)
SolarWinds (NYSE:SWI) EVP Paul Strelzick unloaded 18,000 shares of SolarWinds stock on the open market in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $33.61, for a total transaction of $604,980.00. Following the completion of the transaction, the executive vice president now directly owns 60,621 shares of the company’s stock, valued at approximately $2,037,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of SolarWinds (NYSE:SWI) traded up 3.36% during mid-day trading on Thursday, hitting $35.11. The stock had a trading volume of 999,102 shares. SolarWinds has a one year low of $32.67 and a one year high of $61.52. The stock’s 50-day moving average is $36.98 and its 200-day moving average is $42.52. The company has a market cap of $2.648 billion and a price-to-earnings ratio of 28.57.
SolarWinds (NYSE:SWI) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $77.50 million for the quarter, compared to the consensus estimate of $78.94 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts expect that SolarWinds will post $1.52 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of SolarWinds from $34.00 to $33.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of SolarWinds from a “neutral” rating to a “sell” rating in a research note to investors on Friday, September 20th. They now have a $35.00 price target on the stock, down previously from $46.00. Finally, analysts at Zacks upgraded shares of SolarWinds from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 30th. They now have a $36.60 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. SolarWinds currently has an average rating of “Hold” and a consensus price target of $43.57.
SolarWinds, Inc (NYSE:SWI) designs, develops, markets, sells and supports enterprise information technology (IT), infrastructure management software to IT professionals in organizations of all sizes.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.