Scalar Gauge Management LLC Sells 354,142 Shares of SolarWinds Co. (NYSE:SWI)

Scalar Gauge Management LLC trimmed its holdings in shares of SolarWinds Co. (NYSE:SWI) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 479,918 shares of the software maker’s stock after selling 354,142 shares during the period. SolarWinds makes up about 3.3% of Scalar Gauge Management LLC’s portfolio, making the stock its 9th biggest position. Scalar Gauge Management LLC’s holdings in SolarWinds were worth $6,263,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SWI. Dimensional Fund Advisors LP raised its holdings in shares of SolarWinds by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after purchasing an additional 461,061 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of SolarWinds by 48.5% during the 2nd quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker’s stock valued at $9,869,000 after buying an additional 269,578 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in SolarWinds by 4.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock worth $7,389,000 after acquiring an additional 25,416 shares during the period. Federated Hermes Inc. raised its position in SolarWinds by 0.4% during the second quarter. Federated Hermes Inc. now owns 560,015 shares of the software maker’s stock valued at $6,748,000 after acquiring an additional 2,491 shares in the last quarter. Finally, Foundry Partners LLC raised its position in SolarWinds by 5.3% during the second quarter. Foundry Partners LLC now owns 510,206 shares of the software maker’s stock valued at $6,148,000 after acquiring an additional 25,685 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SolarWinds

In other news, Director William G. Bock sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the sale, the director now owns 88,857 shares of the company’s stock, valued at $1,166,692.41. This represents a 15.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jason Bliss sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the completion of the transaction, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SWI has been the topic of a number of analyst reports. Scotiabank assumed coverage on shares of SolarWinds in a research note on Friday, September 13th. They set a “sector perform” rating and a $13.00 price objective on the stock. Robert W. Baird increased their price target on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds currently has an average rating of “Hold” and an average target price of $14.00.

SolarWinds Stock Up 1.6 %

SolarWinds stock opened at $13.35 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $2.28 billion, a PE ratio of 60.82 and a beta of 0.96. The business has a 50 day simple moving average of $13.02 and a 200-day simple moving average of $12.39. SolarWinds Co. has a 12 month low of $10.14 and a 12 month high of $14.02.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The company had revenue of $200.03 million during the quarter, compared to analysts’ expectations of $194.03 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current fiscal 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.