John Clark’s Southpoint Capital is Selling These 5 Stocks

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1. SolarWinds Corporation (NYSE:SWI)

Total Number of Hedge Fund Holders: 15

SolarWinds Corporation (NYSE: SWI) is an information-technology company based in the United States. The firm offers products such as network performance monitors, server and application monitors and network configuration managers. The firm lost 38.07% of its stock value in the last year, and 5.22% in the year to date.

In the third quarter of 2021, 15 hedge funds reported owning shares in SolarWinds Corporation (NYSE: SWI). The combined value of these holdings stood at $1.09 billion.

SolarWinds Corporation (NYSE: SWI) raked in revenue of $181.27 million for Q3, exceeding expectations by $2.70 million. The company posted earnings per share of $0.37, beating estimates by $0.10.

On October 29, RBC Capital analyst Matthew Hedberg downgraded the company stock from ‘Outperform’ to ‘Sector Perform’, and set the price target at $19, down from $28. The analyst noted that Q3 results were ‘okay’, and cited a lack of catalysts as his reason for lowering the rating.

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