SolarWinds Corp (NYSE:SWI) Short Interest Update

SolarWinds Corp (NYSE:SWI) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 5,347,000 shares, a growth of 20.4% from the May 30th total of 4,439,300 shares. Based on an average trading volume of 845,700 shares, the days-to-cover ratio is presently 6.3 days. Currently, 14.8% of the shares of the stock are sold short.

SWI traded down $0.15 on Friday, hitting $18.91. The company had a trading volume of 424,232 shares, compared to its average volume of 839,533. The stock has a market cap of $5.86 billion and a price-to-earnings ratio of 33.18. SolarWinds has a 1 year low of $12.25 and a 1 year high of $21.22. The stock’s fifty day simple moving average is $18.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 1.51.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Wednesday, April 24th. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $216.00 million during the quarter, compared to analysts’ expectations of $216.54 million. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that SolarWinds will post 0.81 EPS for the current year.

In related news, major shareholder Berman Insurance Fun Neuberger sold 302,419 shares of SolarWinds stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $17.42, for a total value of $5,268,138.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP W. Joseph Kim sold 4,530 shares of SolarWinds stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.58, for a total transaction of $88,697.40. The disclosure for this sale can be found here. Insiders sold a total of 2,690,902 shares of company stock worth $46,953,909 in the last three months. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. First Trust Advisors LP increased its stake in SolarWinds by 0.4% during the first quarter. First Trust Advisors LP now owns 259,763 shares of the software maker’s stock worth $5,071,000 after purchasing an additional 954 shares during the period. Bank of Montreal Can purchased a new stake in SolarWinds during the first quarter worth about $35,000. Rhumbline Advisers increased its stake in SolarWinds by 15.8% during the first quarter. Rhumbline Advisers now owns 24,405 shares of the software maker’s stock worth $476,000 after purchasing an additional 3,325 shares during the period. Meeder Asset Management Inc. purchased a new stake in SolarWinds during the first quarter worth about $65,000. Finally, State of Alaska Department of Revenue increased its stake in SolarWinds by 186.4% during the first quarter. State of Alaska Department of Revenue now owns 8,622 shares of the software maker’s stock worth $166,000 after purchasing an additional 5,612 shares during the period. Institutional investors own 92.82% of the company’s stock.

Several equities research analysts have issued reports on the stock. Goldman Sachs Group cut shares of Zoom Video Communications from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $53.00 to $66.00 in a research note on Sunday, June 30th. Citigroup lifted their target price on shares of SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $242.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.43.

SolarWinds Company 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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