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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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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