Bank of America Corp DE bought a new stake in SolarWinds Corp (NYSE:SWI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 56,486 shares of the software maker’s stock, valued at approximately $782,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWI. State of Alaska Department of Revenue bought a new stake in shares of SolarWinds in the fourth quarter valued at about $41,000. NumerixS Investment Technologies Inc bought a new stake in shares of SolarWinds in the fourth quarter valued at about $96,000. Rhumbline Advisers bought a new stake in shares of SolarWinds in the fourth quarter valued at about $292,000. Blueshift Asset Management LLC bought a new stake in shares of SolarWinds in the fourth quarter valued at about $367,000. Finally, Dean Capital Investments Management LLC bought a new stake in shares of SolarWinds in the fourth quarter valued at about $552,000. Institutional investors and hedge funds own 96.00% of the company’s stock.
SWI has been the subject of several research reports. Barclays reiterated a “hold” rating and issued a $17.00 target price on shares of SolarWinds in a research note on Friday, January 18th. ValuEngine upgraded shares of SolarWinds from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 target price on shares of SolarWinds in a research note on Friday, February 8th. Goldman Sachs Group cut shares of SolarWinds from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research note on Monday, March 18th. Finally, Citigroup increased their price target on shares of SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.60.
SolarWinds (NYSE:SWI) last posted its quarterly earnings results on Wednesday, April 24th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $216.00 million during the quarter, compared to analyst estimates of $216.54 million. SolarWinds’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that SolarWinds Corp will post 0.81 EPS for the current fiscal year.
In related news, CEO Kevin B. Thompson sold 19,158 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.97, for a total value of $363,427.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.
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SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.
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