Renaissance Technologies LLC Cuts Stock Position in SolarWinds Co. (NYSE:SWI)

Renaissance Technologies LLC lessened its holdings in shares of SolarWinds Co. (NYSE:SWI) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 475,600 shares of the software maker’s stock after selling 63,100 shares during the quarter. Renaissance Technologies LLC’s holdings in SolarWinds were worth $6,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SWI. R Squared Ltd acquired a new stake in shares of SolarWinds during the fourth quarter worth $38,000. Steward Partners Investment Advisory LLC raised its holdings in 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 period. KLP Kapitalforvaltning AS acquired a new position in shares of SolarWinds during the 4th quarter worth approximately $124,000. WINTON GROUP Ltd acquired a new stake in shares of SolarWinds in the fourth quarter valued at about $150,000. Finally, Proficio Capital Partners LLC acquired a new stake in SolarWinds in the 4th quarter worth about $160,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SWI. Scotiabank upped their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Wedbush downgraded SolarWinds from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $18.50 in a research report on Friday, February 7th. Royal Bank of Canada boosted their target price on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Robert W. Baird increased their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial reiterated 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. Five research 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 an average price target of $18.00.

SolarWinds Stock Performance

Shares of SWI opened at $18.49 on Friday. 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 52-week low of $10.14 and a 52-week high of $18.55. The stock has a 50 day moving average price of $18.38 and a 200 day moving average price of $15.45. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 29.35 and a beta of 0.88.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a net margin of 14.04% and a return on equity of 12.19%. Research analysts predict 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.