Cornerstone Wealth Management LLC trimmed its stake in shares of Splunk Inc (NASDAQ:SPLK) by 52.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,319 shares of the software company’s stock after selling 42,559 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Splunk were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Splunk during the 2nd quarter worth approximately $104,000. Point72 Hong Kong Ltd acquired a new stake in shares of Splunk during the 2nd quarter worth approximately $110,000. Centaurus Financial Inc. acquired a new stake in shares of Splunk during the 2nd quarter worth approximately $124,000. Nvwm LLC acquired a new stake in shares of Splunk during the 2nd quarter worth approximately $160,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Splunk by 152.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after buying an additional 996 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.
A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective (up from $127.00) on shares of Splunk in a report on Friday, August 24th. Credit Suisse Group increased their price objective on Splunk from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Raymond James increased their price objective on Splunk from $127.00 to $129.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Stifel Nicolaus increased their price objective on Splunk from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, JMP Securities increased their price objective on Splunk from $120.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $124.03.
Shares of NASDAQ SPLK opened at $105.43 on Friday. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of -80.48 and a beta of 2.15. Splunk Inc has a 1 year low of $65.73 and a 1 year high of $130.00.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $388.30 million during the quarter, compared to analyst estimates of $358.46 million. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. On average, equities research analysts predict that Splunk Inc will post -1.15 earnings per share for the current year.
In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of the 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 transaction, the director now directly owns 144,755 shares of the company’s stock, valued at approximately $18,239,130. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of the stock in a transaction 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 transaction, the director now directly owns 19,444 shares of the company’s stock, valued at $2,427,972.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,032 shares of company stock valued at $8,640,864. 0.36% of the stock is currently owned by corporate 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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