Teachers Retirement System of The State of Kentucky Buys 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) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,300 shares of the software maker’s stock, valued at approximately $226,000.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in SolarWinds by 9.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,792 shares of the software maker’s stock worth $3,371,000 after purchasing an additional 24,400 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SolarWinds in the second quarter valued at approximately $58,000. Innealta Capital LLC acquired a new position in SolarWinds during the 2nd quarter worth $79,000. Banque Cantonale Vaudoise boosted its stake in SolarWinds by 1.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock valued at $1,884,000 after purchasing an additional 1,793 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of SolarWinds in the second quarter worth $170,000. Institutional investors own 93.96% of the company’s stock.

Insider Buying and Selling at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the stock in a transaction 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 sale, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. This trade 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 the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock worth $4,703,780 over the last ninety days. 1.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on SWI shares. Scotiabank assumed coverage on SolarWinds in a research report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 target price for the company. Wedbush assumed coverage on shares of SolarWinds in a research report on Thursday. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Robert W. Baird increased their price objective 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 and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.

SolarWinds Stock Performance

Shares of NYSE:SWI opened at $14.28 on Friday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 64.91 and a beta of 0.96. 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 company’s 50 day simple moving average is $13.45 and its 200 day simple moving average is $12.64. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $14.94.

SolarWinds (NYSE:SWI) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) 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 quarter in the previous year, the company earned $0.11 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that SolarWinds Co. will post 0.74 EPS for the current fiscal 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.