AMP Capital Investors Ltd lifted its position in shares of Splunk Inc (NASDAQ:SPLK) by 38.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 52,232 shares of the software company’s stock after acquiring an additional 14,398 shares during the period. AMP Capital Investors Ltd’s holdings in Splunk were worth $5,175,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPLK. Whale Rock Capital Management LLC bought a new stake in shares of Splunk during the first quarter valued at approximately $141,945,000. Victory Capital Management Inc. boosted its position in shares of Splunk by 1,838.0% during the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock valued at $48,154,000 after purchasing an additional 460,796 shares in the last quarter. Millennium Management LLC boosted its position in shares of Splunk by 100.8% during the first quarter. Millennium Management LLC now owns 725,772 shares of the software company’s stock valued at $71,409,000 after purchasing an additional 364,320 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Splunk by 46.6% during the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock valued at $97,576,000 after purchasing an additional 312,893 shares in the last quarter. Finally, Ardevora Asset Management LLP bought a new stake in shares of Splunk during the second quarter valued at approximately $29,605,000. Institutional investors own 89.58% of the company’s stock.
Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Splunk to $136.00 and gave the company a “buy” rating in a research report on Friday, May 25th. Wells Fargo & Co lifted their price objective on Splunk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. BidaskClub upgraded Splunk from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Morgan Stanley lifted their price objective on Splunk from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Friday, May 25th. Finally, Piper Jaffray Companies lifted their price objective on Splunk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, May 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the stock. Splunk currently has a consensus rating of “Buy” and a consensus price target of $121.43.
SPLK stock opened at $125.37 on Friday. Splunk Inc has a 1-year low of $62.39 and a 1-year high of $130.00. The firm has a market capitalization of $18.26 billion, a PE ratio of -95.70 and a beta of 2.08.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results 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 firm had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. research analysts expect that Splunk Inc will post -1.15 EPS for the current fiscal year.
In related news, Director Godfrey Sullivan sold 8,750 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 144,755 shares in the company, valued at $18,239,130. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David F. Conte sold 15,519 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $125.29, for a total value of $1,944,375.51. The disclosure for this sale can be found here. Insiders sold 66,941 shares of company stock valued at $8,379,761 in the last 90 days. Company insiders own 0.36% of the company’s stock.
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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