SolarWinds (NYSE:SWI) Stock Passes Above 200 Day Moving Average of $8.98

Shares of SolarWinds Co. (NYSE:SWI – Get Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.98 and traded as high as $9.16. SolarWinds shares last traded at $9.10, with a volume of 319,022 shares.

Analyst Ratings Changes

Several research analysts recently commented on the stock. VNET Group reaffirmed a “maintains” rating on shares of SolarWinds in a research note on Friday, April 28th. Morgan Stanley raised their target price on shares of SolarWinds from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, February 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $11.00 target price on shares of SolarWinds in a research report on Monday, March 6th.

SolarWinds Stock Performance

The business’s 50-day moving average price is $8.60 and its 200-day moving average price is $8.98. The stock has a market cap of $1.50 billion, a PE ratio of -1.60 and a beta of 0.97. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.86.

Institutional Trading of SolarWinds

A number of institutional investors have recently bought and sold shares of SWI. Bank of New York Mellon Corp increased its stake in shares of SolarWinds by 11.3% in the first quarter. Bank of New York Mellon Corp now owns 287,116 shares of the software maker’s stock worth $3,821,000 after acquiring an additional 29,063 shares during the period. US Bancorp DE boosted its holdings in SolarWinds by 3,591.5% in the first quarter. US Bancorp DE now owns 4,762 shares of the software maker’s stock valued at $64,000 after purchasing an additional 4,633 shares during the last quarter. Bank of Montreal Can purchased a new stake in SolarWinds in the first quarter valued at $1,682,000. BlackRock Inc. boosted its holdings in SolarWinds by 31.0% in the first quarter. BlackRock Inc. now owns 2,243,244 shares of the software maker’s stock valued at $29,857,000 after purchasing an additional 531,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in SolarWinds by 113.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,088,937 shares of the software maker’s stock valued at $14,494,000 after purchasing an additional 577,938 shares during the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.

SolarWinds Company Profile

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SolarWinds Corp. engages in the provision of information technology (IT)infrastructure management software. It provides network management, systems management, database management, IT security, IT helpdesk, and cloud services. The company was founded in 1999 and is headquartered in Austin, TX.