PNC Financial Services Group Inc. Sells 4,010 Shares of Splunk Inc. (NASDAQ:SPLK)

PNC Financial Services Group Inc. trimmed its position in shares of Splunk Inc. (NASDAQ:SPLKGet Rating) by 27.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,802 shares of the software company’s stock after selling 4,010 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Splunk were worth $1,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. purchased a new position in Splunk during the first quarter worth $30,000. SJS Investment Consulting Inc. boosted its stake in Splunk by 66.4% during the first quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock worth $34,000 after buying an additional 91 shares during the period. Wolverine Asset Management LLC boosted its stake in Splunk by 109.2% during the first quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock worth $34,000 after buying an additional 2,800 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Splunk during the first quarter worth $49,000. Finally, Global Trust Asset Management LLC boosted its stake in Splunk by 35,600.0% during the first quarter. Global Trust Asset Management LLC now owns 357 shares of the software company’s stock worth $53,000 after buying an additional 356 shares during the period. 85.49% of the stock is owned by hedge funds and other institutional investors.

Splunk Stock Performance

SPLK opened at $86.98 on Wednesday. Splunk Inc. has a 52-week low of $84.63 and a 52-week high of $176.66. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.63 and a current ratio of 1.63. The firm’s 50-day moving average price is $101.81 and its 200-day moving average price is $111.82.

Splunk (NASDAQ:SPLKGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The software company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.44. Splunk had a negative net margin of 32.85% and a negative return on equity of 396.11%. The firm had revenue of $798.75 million for the quarter, compared to the consensus estimate of $747.92 million. During the same quarter in the prior year, the company posted ($1.63) earnings per share. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. Analysts predict that Splunk Inc. will post -3.58 earnings per share for the current year.

Insider Activity at Splunk

In related news, insider Shawn Bice sold 31,316 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $87.73, for a total value of $2,747,352.68. Following the sale, the insider now owns 103,680 shares in the company, valued at $9,095,846.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Shawn Bice sold 31,316 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $87.73, for a total value of $2,747,352.68. Following the sale, the insider now owns 103,680 shares in the company, valued at $9,095,846.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Scott Morgan sold 883 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $88.08, for a total value of $77,774.64. Following the completion of the sale, the senior vice president now owns 130,311 shares in the company, valued at approximately $11,477,792.88. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cowen lowered their target price on shares of Splunk from $110.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, August 25th. Guggenheim assumed coverage on shares of Splunk in a research note on Friday, August 12th. They set a “buy” rating and a $160.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of Splunk in a research note on Thursday, July 7th. They set a “buy” rating and a $130.00 target price for the company. Credit Suisse Group lowered their target price on shares of Splunk from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th. Finally, Piper Sandler lowered their target price on shares of Splunk from $130.00 to $120.00 in a research note on Wednesday, July 13th. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Splunk currently has an average rating of “Moderate Buy” and a consensus price target of $134.57.

Splunk Profile

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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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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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