SPX Gestao de Recursos Ltda raised its holdings in Splunk Inc. (NASDAQ:SPLK - Get Rating) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 66,502 shares of the software company's stock after acquiring an additional 11,622 shares during the quarter. SPX Gestao de Recursos Ltda's holdings in Splunk were worth $5,001,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SPLK. Meiji Yasuda Life Insurance Co increased its holdings in shares of Splunk by 3.6% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company's stock valued at $455,000 after acquiring an additional 105 shares in the last quarter. Nicollet Investment Management Inc. lifted its position in Splunk by 1.5% in the 2nd quarter. Nicollet Investment Management Inc. now owns 8,605 shares of the software company's stock valued at $761,000 after acquiring an additional 125 shares in the last quarter. Prelude Capital Management LLC lifted its holdings in shares of Splunk by 2.7% in the second quarter. Prelude Capital Management LLC now owns 4,845 shares of the software company's stock valued at $429,000 after purchasing an additional 129 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Splunk by 2.7% during the first quarter. Captrust Financial Advisors now owns 5,711 shares of the software company's stock valued at $849,000 after buying an additional 149 shares during the last quarter. Finally, Toroso Investments LLC raised its position in Splunk by 5.3% in the 1st quarter. Toroso Investments LLC now owns 3,094 shares of the software company's stock valued at $460,000 after buying an additional 156 shares during the last quarter. 85.71% of the stock is owned by institutional investors and hedge funds.
Splunk Trading Down 1.5 %
SPLK stock traded down $1.35 on Friday, hitting $87.51. The company had a trading volume of 17,264 shares, compared to its average volume of 1,617,778. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of -20.76 and a beta of 1.30. The stock's 50-day simple moving average is $83.44 and its 200 day simple moving average is $89.28. Splunk Inc. has a 12-month low of $65.00 and a 12-month high of $150.79.
Splunk (NASDAQ:SPLK - Get Rating) last released its quarterly earnings results on Wednesday, November 30th. The software company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.72. Splunk had a negative net margin of 20.81% and a negative return on equity of 396.11%. The business had revenue of $929.77 million for the quarter, compared to the consensus estimate of $845.91 million. Research analysts forecast that Splunk Inc. will post -2.27 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on shares of Splunk to $90.00 in a research note on Monday, November 28th. Stifel Nicolaus reduced their target price on Splunk from $115.00 to $97.00 in a report on Thursday, December 1st. Barclays increased their price target on shares of Splunk from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Thursday, December 1st. Wells Fargo & Company upped their target price on shares of Splunk to $105.00 in a report on Friday, December 2nd. Finally, Piper Sandler reduced their price target on shares of Splunk from $120.00 to $105.00 in a research report on Thursday, December 1st. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Splunk currently has an average rating of "Moderate Buy" and a consensus target price of $116.00.
Insiders Place Their Bets
In related news, SVP Scott Morgan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $88.13, for a total value of $88,130.00. Following the transaction, the senior vice president now directly owns 122,953 shares of the company's stock, valued at approximately $10,835,847.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.
Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.
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