West Tower Group LLC Has $94,000 Stake in SolarWinds Co. (NYSE:SWI)

West Tower Group LLC raised its holdings in SolarWinds Co. (NYSE:SWI) by 38.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,221 shares of the software maker’s stock after acquiring an additional 2,000 shares during the period. West Tower Group LLC’s holdings in SolarWinds were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 valued at $27,000 after acquiring an additional 1,603 shares during the period. nVerses Capital LLC acquired a new position in SolarWinds in the second quarter valued at about $41,000. Allworth Financial LP grew its stake in SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after acquiring an additional 3,331 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SolarWinds in the second quarter valued at about $58,000. Finally, Allspring Global Investments Holdings LLC boosted its position 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 worth $66,000 after buying an additional 1,001 shares during the period. 93.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SWI has been the subject of several recent research reports. Scotiabank began coverage on SolarWinds in a research report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price objective for the company. Robert W. Baird upped their target price on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SolarWinds presently has a consensus rating of “Hold” and an average price target of $14.00.

Insider Buying and Selling at SolarWinds

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 stock was 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 of the company’s stock, valued at approximately $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,212,171 shares in the company, valued at $30,262,499.28. The trade was a 8.29 % 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 over the last 90 days. Company insiders own 1.95% of the company’s stock.

SolarWinds Price Performance

NYSE:SWI opened at $13.29 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $12.99 and its two-hundred day moving average price is $12.37. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 60.41 and a beta of 0.96. SolarWinds Co. has a 12-month low of $10.14 and a 12-month high of $14.02.

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