Principal Financial Group Inc. Purchases 12,428 Shares of SolarWinds Co. (NYSE:SWI)

Principal Financial Group Inc. raised its holdings in shares of SolarWinds Co. (NYSE:SWI) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,855 shares of the software maker’s stock after acquiring an additional 12,428 shares during the quarter. Principal Financial Group Inc.’s holdings in SolarWinds were worth $4,187,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its stake in SolarWinds by 170.1% during the 3rd quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock valued at $1,233,000 after purchasing an additional 59,532 shares during the period. Pacer Advisors Inc. grew its holdings in SolarWinds by 18.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock valued at $235,000 after buying an additional 2,574 shares in the last quarter. State Street Corp raised its position in shares of SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after buying an additional 800,467 shares during the last quarter. Villanova Investment Management Co LLC raised its position in shares of SolarWinds by 42.8% during the third quarter. Villanova Investment Management Co LLC now owns 149,709 shares of the software maker’s stock valued at $1,954,000 after buying an additional 44,839 shares during the last quarter. Finally, Harvey Partners LLC bought a new position in shares of SolarWinds during the third quarter worth $1,958,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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 report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and issued a $18.50 target price (up from $13.00) on shares of SolarWinds in a report on Monday, February 10th. Scotiabank boosted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Royal Bank of Canada raised their price target on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $18.50 in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds presently has an average rating of “Hold” and an average target price of $18.00.

SolarWinds Stock Performance

SolarWinds stock opened at $18.34 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.85. SolarWinds Co. has a twelve month low of $10.14 and a twelve month high of $18.55. The company’s 50-day moving average price is $15.73 and its 200-day moving average price is $14.05. The company has a market cap of $3.15 billion, a PE ratio of 29.11 and a beta of 0.94.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 12.19% and a net margin of 14.04%. On average, equities research analysts forecast that SolarWinds Co. will post 0.75 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.