Gradient Investments LLC lifted its stake in Splunk Inc (NASDAQ:SPLK) by 35.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,855 shares of the software company’s stock after acquiring an additional 2,555 shares during the period. Gradient Investments LLC’s holdings in Splunk were worth $1,192,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in shares of Splunk in the 2nd quarter valued at approximately $104,000. Point72 Hong Kong Ltd bought a new position in shares of Splunk in the 2nd quarter valued at approximately $110,000. Centaurus Financial Inc. bought a new position in shares of Splunk in the 2nd quarter valued at approximately $124,000. Nvwm LLC bought a new position in shares of Splunk in the 2nd quarter valued at approximately $160,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Splunk by 152.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock valued at $164,000 after acquiring an additional 996 shares in the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:SPLK opened at $103.54 on Friday. Splunk Inc has a 1-year low of $62.39 and a 1-year high of $130.00. The company has a market cap of $17.53 billion, a PE ratio of -79.04 and a beta of 2.07.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The company had revenue of $388.30 million for the quarter, compared to analyst estimates of $358.46 million. During the same quarter last year, the firm earned $0.08 EPS. Splunk’s revenue for the quarter was up 38.6% compared to the same quarter last year. Research analysts expect that Splunk Inc will post -1.15 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on SPLK. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective (up from $127.00) on shares of Splunk in a research note on Friday, August 24th. Credit Suisse Group raised their price objective on Splunk from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Stifel Nicolaus raised their price objective on Splunk from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 24th. BidaskClub downgraded Splunk from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 23rd. Finally, JMP Securities raised their price objective on Splunk from $120.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, August 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $122.77.
In other news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $126.00, for a total transaction of $1,102,500.00. Following the sale, the director now owns 144,755 shares of the company’s stock, valued at approximately $18,239,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of Splunk stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $124.87, for a total value of $261,103.17. Following the sale, the director now directly owns 19,444 shares in the company, valued at approximately $2,427,972.28. The disclosure for this sale can be found here. Insiders have sold a total of 69,032 shares of company stock worth $8,640,864 in the last three months. 0.36% of the stock is owned by insiders.
Splunk Company Profile
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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