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Harber Asset Management LLC Purchases Shares of 510,375 SolarWinds Co. (NYSE:SWI)

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Harber Asset Management LLC purchased a new stake in shares of SolarWinds Co. (NYSE:SWI – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 510,375 shares of the software maker's stock, valued at approximately $6,793,000. SolarWinds comprises about 1.7% of Harber Asset Management LLC's portfolio, making the stock its 26th biggest holding. Harber Asset Management LLC owned about 0.32% of SolarWinds as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SWI. Vanguard Group Inc. raised its holdings in shares of SolarWinds by 2.4% during the first quarter. Vanguard Group Inc. now owns 3,924,319 shares of the software maker's stock valued at $52,233,000 after purchasing an additional 92,234 shares during the period. ETF Managers Group LLC raised its holdings in shares of SolarWinds by 4.5% during the fourth quarter. ETF Managers Group LLC now owns 3,089,585 shares of the software maker's stock valued at $44,552,000 after purchasing an additional 134,227 shares during the period. BlackRock Inc. raised its holdings in shares of SolarWinds by 31.0% during 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 period. Lazard Asset Management LLC raised its holdings in shares of SolarWinds by 5.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,227,751 shares of the software maker's stock worth $16,341,000 after acquiring an additional 64,035 shares during the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in SolarWinds in the 1st quarter valued at about $14,723,000. Institutional investors own 97.12% of the company's stock.

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SolarWinds Stock Performance

SWI stock traded up $0.07 during midday trading on Monday, hitting $8.86. The company's stock had a trading volume of 2,304 shares, compared to its average volume of 647,428. The stock's 50-day moving average price is $10.00 and its 200 day moving average price is $11.33. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.15. SolarWinds Co. has a 1 year low of $8.11 and a 1 year high of $20.55. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -2.18 and a beta of 0.92.

SolarWinds (NYSE:SWI – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The software maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. SolarWinds had a positive return on equity of 1.07% and a negative net margin of 91.47%. The business had revenue of $176.03 million for the quarter, compared to analysts' expectations of $175.53 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business's revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that SolarWinds Co. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

SWI has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on SolarWinds from $14.00 to $12.00 and set a "sector perform" rating for the company in a report on Wednesday, August 3rd. Truist Financial cut their target price on SolarWinds from $15.00 to $10.00 in a research report on Wednesday, August 3rd. Morgan Stanley cut their target price on SolarWinds from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 3rd. Finally, Robert W. Baird cut their target price on SolarWinds to $12.00 in a research report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, SolarWinds presently has a consensus rating of "Hold" and a consensus price target of $12.60.

About SolarWinds

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SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. The company offers a portfolio of solutions to technology professionals for monitoring, managing, and optimizing networks, systems, desktops, applications, storage, databases, website infrastructures, and IT service desks.

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