3,777 Shares in Splunk Inc (NASDAQ:SPLK) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC acquired a new stake in shares of Splunk Inc (NASDAQ:SPLK) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,777 shares of the software company’s stock, valued at approximately $471,000.

Other large investors also recently added to or reduced their stakes in the company. Cable Hill Partners LLC bought a new stake in shares of Splunk during the 1st quarter valued at $25,000. Berman Capital Advisors LLC bought a new stake in shares of Splunk during the 4th quarter valued at $29,000. Bessemer Group Inc. raised its stake in shares of Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares during the period. Trustcore Financial Services LLC bought a new stake in shares of Splunk during the 1st quarter valued at $37,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Splunk during the 1st quarter valued at $43,000.

In other news, General Counsel Scott Morgan sold 1,328 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $115.23, for a total value of $153,025.44. Following the completion of the transaction, the general counsel now directly owns 60,768 shares in the company, valued at approximately $7,002,296.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Tully sold 6,655 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $128.06, for a total value of $852,239.30. Following the completion of the transaction, the senior vice president now owns 127,727 shares of the company’s stock, valued at $16,356,719.62. The disclosure for this sale can be found here. Insiders sold a total of 95,953 shares of company stock valued at $11,725,445 over the last quarter. Company insiders own 0.36% of the company’s stock.

SPLK opened at $118.24 on Friday. Splunk Inc has a 12-month low of $83.69 and a 12-month high of $143.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.20 and a quick ratio of 3.20. The stock has a market capitalization of $17.53 billion, a PE ratio of -74.36 and a beta of 2.15.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, May 23rd. The software company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Splunk had a negative return on equity of 14.98% and a negative net margin of 16.31%. The firm had revenue of $424.90 million during the quarter, compared to analysts’ expectations of $395.92 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Splunk’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, equities research analysts expect that Splunk Inc will post -0.99 EPS for the current year.

SPLK has been the topic of a number of analyst reports. BidaskClub lowered Splunk from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Wedbush boosted their price objective on Splunk from $159.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Northland Securities reiterated a “buy” rating and set a $160.00 price objective on shares of Splunk in a research note on Friday, May 24th. Mizuho began coverage on Splunk in a research report on Wednesday, March 13th. They set a “buy” rating and a $150.00 target price for the company. Finally, Barclays boosted their target price on Splunk from $154.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $144.27.

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About Splunk

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.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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