Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 18.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 594,980 shares of the software company’s stock after purchasing an additional 91,789 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.43% of Splunk worth $39,525,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Crossmark Global Holdings Inc. bought a new stake in Splunk during the 3rd quarter worth approximately $201,000. FDx Advisors Inc. bought a new position in Splunk in the 3rd quarter valued at $210,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Splunk by 24.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after buying an additional 656 shares during the last quarter. IFP Advisors Inc raised its stake in Splunk by 6.2% during the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock worth $200,000 after buying an additional 204 shares during the period. Finally, Cipher Capital LP acquired a new stake in Splunk during the 2nd quarter worth $217,000.
In other Splunk news, CFO David F. Conte sold 21,589 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total value of $1,489,425.11. Following the completion of the sale, the chief financial officer now directly owns 161,022 shares of the company’s stock, valued at approximately $11,108,907.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Godfrey Sullivan sold 40,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $68.62, for a total transaction of $2,744,800.00. Following the completion of the sale, the director now directly owns 585,790 shares of the company’s stock, valued at $40,196,909.80. The disclosure for this sale can be found here. Insiders sold a total of 588,672 shares of company stock worth $39,505,760 in the last 90 days. 1.43% of the stock is currently owned by company insiders.
Several brokerages recently commented on SPLK. Citigroup reaffirmed a “hold” rating and set a $73.00 price objective on shares of Splunk in a research note on Monday, November 27th. Bank of America lifted their price target on Splunk from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Barclays lifted their price target on Splunk from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. Robert W. Baird restated an “average” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Splunk in a report on Monday, November 20th. Finally, Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have assigned a buy rating to the stock. Splunk currently has a consensus rating of “Buy” and a consensus target price of $82.74.
Shares of Splunk Inc (NASDAQ:SPLK) traded up $0.10 during midday trading on Thursday, hitting $80.55. 1,416,628 shares of the stock traded hands, compared to its average volume of 1,652,966. Splunk Inc has a 52-week low of $50.64 and a 52-week high of $84.88.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, November 16th. The software company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. The company had revenue of $328.65 million for the quarter, compared to analyst estimates of $309.01 million. sell-side analysts forecast that Splunk Inc will post -1.3 EPS for the current fiscal year.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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