Wells Fargo & Company MN Increases Holdings in SolarWinds Corp (NYSE:SWI)

Wells Fargo & Company MN increased its holdings in shares of SolarWinds Corp (NYSE:SWI) by 42.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,353 shares of the software maker’s stock after purchasing an additional 2,770 shares during the period. Wells Fargo & Company MN’s holdings in SolarWinds were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP boosted its position in SolarWinds by 0.3% during the 2nd quarter. First Trust Advisors LP now owns 260,506 shares of the software maker’s stock worth $4,778,000 after purchasing an additional 743 shares during the period. Aperio Group LLC purchased a new stake in SolarWinds during the 2nd quarter worth $34,000. BNP Paribas Arbitrage SA purchased a new stake in SolarWinds during the 2nd quarter worth $36,000. Machina Capital S.A.S. boosted its position in SolarWinds by 4,590.0% during the 2nd quarter. Machina Capital S.A.S. now owns 4,690 shares of the software maker’s stock worth $86,000 after purchasing an additional 4,590 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in SolarWinds by 15.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,498 shares of the software maker’s stock worth $688,000 after purchasing an additional 4,992 shares during the period. 95.68% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on SWI. Jefferies Financial Group decreased their price target on shares of SolarWinds from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America cut shares of SolarWinds from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Zacks Investment Research cut shares of SolarWinds from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. ValuEngine cut shares of SolarWinds from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Goldman Sachs Group cut shares of SolarWinds from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $20.00 to $17.50 in a research report on Sunday, June 30th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. SolarWinds currently has a consensus rating of “Hold” and a consensus price target of $19.37.

NYSE:SWI opened at $18.64 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a 50-day moving average of $18.09 and a two-hundred day moving average of $18.34. The stock has a market cap of $5.78 billion and a P/E ratio of 32.70. SolarWinds Corp has a 1-year low of $12.25 and a 1-year high of $21.22.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $230.60 million during the quarter, compared to analysts’ expectations of $226.51 million. SolarWinds had a net margin of 67.62% and a return on equity of 8.56%. SolarWinds’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts expect that SolarWinds Corp will post 0.74 earnings per share for the current year.

SolarWinds Profile

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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Institutional Ownership by Quarter for SolarWinds (NYSE:SWI)

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