SolarWinds Co. (NYSE:SWI) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in SolarWinds Co. (NYSE:SWI) by 467.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 99,677 shares of the software maker’s stock after buying an additional 82,099 shares during the period. Millennium Management LLC’s holdings in SolarWinds were worth $1,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of SolarWinds by 808.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker’s stock worth $25,000 after acquiring an additional 1,552 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in SolarWinds by 75.5% during the fourth 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 in the last quarter. BNP Paribas Financial Markets acquired a new stake in SolarWinds during the fourth quarter worth approximately $98,000. KLP Kapitalforvaltning AS acquired a new stake in SolarWinds during the fourth quarter worth approximately $124,000. Finally, WINTON GROUP Ltd acquired a new stake in SolarWinds during the 4th quarter worth $150,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Stock Performance

Shares of SWI opened at $18.49 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.85. The stock has a market capitalization of $3.20 billion, a P/E ratio of 29.35 and a beta of 0.88. The company’s fifty day moving average is $18.48 and its two-hundred day moving average is $16.68. SolarWinds Co. has a 1 year low of $10.14 and a 1 year high of $18.55.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird lifted their target price on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Truist Financial reiterated a “hold” rating and issued a $18.50 price target (up previously from $13.00) on shares of SolarWinds in a research report on Monday, February 10th. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Finally, Scotiabank lifted their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds has an average rating of “Hold” and an average price target of $18.00.

SolarWinds 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.