8,700 Shares in SolarWinds Co. (NYSE:SWI) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in SolarWinds Co. (NYSE:SWI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,700 shares of the software maker’s stock, valued at approximately $124,000.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of SolarWinds during the fourth quarter worth approximately $38,000. Steward Partners Investment Advisory LLC increased its position in shares of SolarWinds by 75.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker’s stock worth $76,000 after purchasing an additional 2,279 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SolarWinds in the 3rd quarter valued at about $138,000. Proficio Capital Partners LLC acquired a new stake in shares of SolarWinds in the 4th quarter valued at about $160,000. Finally, Verition Fund Management LLC bought a new position in shares of SolarWinds during the third quarter worth about $171,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SWI. Wedbush lowered SolarWinds from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $18.50 in a report on Friday, February 7th. Robert W. Baird upped their price target on SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Scotiabank raised their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Finally, Truist Financial reaffirmed a “hold” rating and set a $18.50 price objective (up previously from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

SolarWinds Stock Performance

Shares of SWI opened at $18.48 on Thursday. The firm has a fifty day moving average of $18.09 and a 200-day moving average of $15.19. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 29.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $18.55.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. As a group, equities analysts anticipate that SolarWinds Co. will post 0.75 earnings per share for the current 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.