First Trust Advisors LP Has $2.08 Million Stake in SolarWinds Co. (NYSE:SWI)

First Trust Advisors LP lowered its position in SolarWinds Co. (NYSE:SWI) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,780 shares of the software maker’s stock after selling 47,004 shares during the period. First Trust Advisors LP’s holdings in SolarWinds were worth $2,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in shares of SolarWinds by 808.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker’s stock worth $25,000 after purchasing an additional 1,552 shares during the last quarter. R Squared Ltd bought a new stake in SolarWinds in the fourth quarter worth $38,000. Steward Partners Investment Advisory LLC increased its position in SolarWinds by 75.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker’s stock worth $76,000 after buying an additional 2,279 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in SolarWinds during the fourth quarter valued at about $124,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of SolarWinds in the fourth quarter worth about $150,000. Institutional investors own 93.96% of the company’s stock.

Analysts Set New Price Targets

SWI has been the topic of a number of recent analyst reports. 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. Robert W. Baird lifted their price target on shares of SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a research report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and set a $18.50 price objective (up from $13.00) on shares of SolarWinds in a report on Monday, February 10th. Scotiabank lifted their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Finally, Wedbush cut shares of SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $18.50 in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

SolarWinds Stock Performance

Shares of SWI stock opened at $18.49 on Tuesday. 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’s fifty day simple moving average is $18.42 and its 200 day simple moving average is $15.91. The firm has a market capitalization of $3.20 billion, a P/E ratio of 29.35 and a beta of 0.88.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. As a group, sell-side analysts predict that SolarWinds Co. will post 0.75 EPS for the current year.

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.