Oppenheimer & Co. Inc. lowered its position in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 45.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,931 shares of the software company’s stock after selling 4,089 shares during the period. Oppenheimer & Co. Inc.’s holdings in Splunk were worth $436,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC boosted its position in Splunk by 35.9% during the first quarter. Kestra Advisory Services LLC now owns 4,445 shares of the software company’s stock worth $661,000 after acquiring an additional 1,175 shares during the last quarter. Comerica Bank lifted its stake in Splunk by 19.1% in the 1st quarter. Comerica Bank now owns 16,486 shares of the software company’s stock worth $2,196,000 after purchasing an additional 2,646 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Splunk by 8.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,730 shares of the software company’s stock worth $257,000 after purchasing an additional 128 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Splunk in the first quarter valued at approximately $1,707,000. Finally, DAVENPORT & Co LLC increased its holdings in shares of Splunk by 18.8% in the first quarter. DAVENPORT & Co LLC now owns 6,339 shares of the software company’s stock valued at $942,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 85.49% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SPLK. Argus dropped their target price on Splunk from $171.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 31st. UBS Group downgraded shares of Splunk from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $86.00 in a research note on Thursday, October 6th. Cowen dropped their price target 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. Citigroup reaffirmed a “neutral” rating and set a $118.00 price target (down previously from $120.00) on shares of Splunk in a research report on Wednesday, August 3rd. Finally, Cowen lowered their price objective on Splunk from $110.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, August 25th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Splunk presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.07.
Splunk Stock Performance
Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings results on Wednesday, August 24th. The software company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.58) by $0.64. The company had revenue of $798.75 million for the quarter, compared to analyst estimates of $747.92 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 32.85%. The firm’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.63) earnings per share. As a group, research analysts predict that Splunk Inc. will post -2.97 EPS for the current year.
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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