Heritage Investors Management Corp increased its holdings in Splunk Inc (NASDAQ:SPLK) by 84.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,718 shares of the software company’s stock after buying an additional 11,348 shares during the period. Heritage Investors Management Corp’s holdings in Splunk were worth $3,702,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SPLK. Johanson Financial Advisors Inc. bought a new stake in shares of Splunk during the fourth quarter valued at about $180,000. DNB Asset Management AS lifted its holdings in shares of Splunk by 6.8% in the fourth quarter. DNB Asset Management AS now owns 17,065 shares of the software company’s stock worth $2,556,000 after buying an additional 1,092 shares in the last quarter. Allred Capital Management LLC bought a new position in shares of Splunk in the fourth quarter valued at approximately $87,000. Lake Street Financial LLC boosted its position in shares of Splunk by 1.7% in the fourth quarter. Lake Street Financial LLC now owns 9,071 shares of the software company’s stock valued at $1,359,000 after acquiring an additional 150 shares during the period. Finally, Aries Wealth Management purchased a new position in Splunk during the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
A number of analysts recently weighed in on the stock. Wells Fargo & Co upped their target price on shares of Splunk from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Bank of America reissued a “buy” rating and issued a $167.00 price target on shares of Splunk in a report on Thursday, September 19th. Morgan Stanley raised their price target on shares of Splunk from $169.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. Cleveland Research lowered shares of Splunk from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Credit Suisse Group upped their price target on shares of Splunk from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $159.30.
In other news, SVP Scott Morgan sold 306 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $150.00, for a total transaction of $45,900.00. Following the transaction, the senior vice president now directly owns 50,104 shares of the company’s stock, valued at $7,515,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Merritt sold 14,894 shares of Splunk stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $146.15, for a total value of $2,176,758.10. Following the completion of the transaction, the chief executive officer now owns 240,293 shares in the company, valued at approximately $35,118,821.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,702 shares of company stock valued at $8,308,530. Company insiders own 0.34% of the company’s stock.
Shares of SPLK stock opened at $157.04 on Wednesday. The business has a 50-day moving average price of $150.08 and a two-hundred day moving average price of $130.20. Splunk Inc has a 12-month low of $107.16 and a 12-month high of $158.70. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.06. The firm has a market cap of $24.54 billion, a P/E ratio of -98.77 and a beta of 2.06.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, November 21st. The software company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $626.00 million for the quarter, compared to analyst estimates of $605.20 million. Splunk had a negative return on equity of 11.03% and a negative net margin of 14.24%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. As a group, research analysts expect that Splunk Inc will post -0.86 EPS for the current fiscal year.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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