Teachers Retirement System of The State of Kentucky Purchases Shares of 17,300 SolarWinds Co. (NYSE:SWI)

Teachers Retirement System of The State of Kentucky acquired a new position in SolarWinds Co. (NYSE:SWI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,300 shares of the software maker’s stock, valued at approximately $226,000.

Several other institutional investors have also recently modified their holdings of SWI. GAMMA Investing LLC lifted its stake in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares during the last quarter. nVerses Capital LLC bought a new position in shares of SolarWinds in the second quarter worth approximately $41,000. Allworth Financial LP increased its stake in shares of SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after buying an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SolarWinds during the 2nd quarter valued at $58,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after acquiring an additional 1,001 shares during the last quarter. 93.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SWI shares. Robert W. Baird raised their target price on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Wedbush assumed coverage on SolarWinds in a research report on Thursday. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Scotiabank started coverage on SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling

In other news, 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 transaction, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $210,080.00. Following the sale, the director now owns 88,857 shares in the company, valued at approximately $1,166,692.41. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock worth $4,703,780 in the last 90 days. Insiders own 1.95% of the company’s stock.

SolarWinds Stock Performance

Shares of SWI opened at $14.28 on Friday. The company has a 50-day simple moving average of $13.45 and a two-hundred day simple moving average of $12.64. 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 firm has a market capitalization of $2.44 billion, a PE ratio of 64.91 and a beta of 0.96. SolarWinds Co. has a one year low of $10.14 and a one year high of $14.94.

SolarWinds (NYSE:SWI) last released its earnings results 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 firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. During the same period in the prior year, the firm earned $0.11 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that SolarWinds Co. will post 0.74 EPS for the current fiscal year.

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.