Columbia Partners L.L.C. Investment Management Grows Holdings in Splunk Inc (SPLK)

Columbia Partners L.L.C. Investment Management raised its position in Splunk Inc (NASDAQ:SPLK) by 115.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,786 shares of the software company’s stock after acquiring an additional 6,303 shares during the quarter. Columbia Partners L.L.C. Investment Management’s holdings in Splunk were worth $1,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPLK. Morgan Stanley boosted its stake in shares of Splunk by 16.3% in the 2nd quarter. Morgan Stanley now owns 926,433 shares of the software company’s stock valued at $91,819,000 after buying an additional 130,133 shares during the period. ING Groep NV purchased a new position in shares of Splunk in the 2nd quarter valued at about $297,000. Cowen Inc. boosted its stake in shares of Splunk by 66.4% in the 2nd quarter. Cowen Inc. now owns 42,834 shares of the software company’s stock valued at $4,245,000 after buying an additional 17,100 shares during the period. Bridgewater Associates LP purchased a new position in shares of Splunk in the 2nd quarter valued at about $7,962,000. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Splunk by 39.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 838,913 shares of the software company’s stock valued at $101,433,000 after buying an additional 238,402 shares during the period. 87.82% of the stock is owned by institutional investors.

SPLK stock opened at $111.73 on Monday. The company has a market cap of $16.20 billion, a P/E ratio of -85.29 and a beta of 2.15. Splunk Inc has a fifty-two week low of $76.89 and a fifty-two week high of $130.00.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, November 29th. The software company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.61. The firm had revenue of $480.98 million during the quarter, compared to analysts’ expectations of $433.60 million. Splunk had a negative return on equity of 22.60% and a negative net margin of 18.92%. The firm’s revenue was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. As a group, analysts forecast that Splunk Inc will post -1.15 EPS for the current year.

In other Splunk news, CFO David F. Conte sold 15,519 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.29, for a total value of $1,944,375.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark T. Carges sold 2,091 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $124.87, for a total value of $261,103.17. Following the completion of the sale, the director now owns 19,444 shares of the company’s stock, valued at approximately $2,427,972.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,032 shares of company stock valued at $8,640,864. 0.36% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on the company. Cowen reiterated a “buy” rating and issued a $133.00 price objective on shares of Splunk in a research note on Sunday. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective (up previously from $127.00) on shares of Splunk in a research note on Friday, August 24th. Credit Suisse Group lifted 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. Raymond James lifted their price objective on Splunk from $127.00 to $129.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Finally, Stifel Nicolaus lifted 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $128.31.

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Splunk 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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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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