Cwm LLC Cuts Position in Splunk Inc. (NASDAQ:SPLK)

Cwm LLC trimmed its position in shares of Splunk Inc. (NASDAQ:SPLKGet Rating) by 97.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,203 shares of the software company’s stock after selling 89,879 shares during the period. Cwm LLC’s holdings in Splunk were worth $166,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SPLK. MetLife Investment Management LLC acquired a new position in Splunk in the first quarter valued at approximately $1,527,000. Raymond James Trust N.A. boosted its holdings in Splunk by 34.4% in the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after purchasing an additional 1,268 shares in the last quarter. Prudential PLC acquired a new position in Splunk in the first quarter valued at approximately $357,000. National Pension Service boosted its holdings in Splunk by 8.1% in the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after purchasing an additional 18,834 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Splunk in the first quarter valued at approximately $89,000. 85.71% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Stock Down 0.1 %

Shares of SPLK stock opened at $88.80 on Monday. The stock has a market cap of $14.54 billion, a P/E ratio of -20.75 and a beta of 1.30. Splunk Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $150.79. The business has a fifty day simple moving average of $83.78 and a 200-day simple moving average of $89.17.

Splunk (NASDAQ:SPLKGet Rating) last posted its quarterly earnings data on Wednesday, November 30th. The software company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.72. The business had revenue of $929.77 million for the quarter, compared to analyst estimates of $845.91 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 20.81%. On average, sell-side analysts anticipate that Splunk Inc. will post -2.27 earnings per share for the current year.

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 1,000 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $88.13, for a total transaction of $88,130.00. Following the sale, the senior vice president now owns 122,953 shares of the company’s stock, valued at $10,835,847.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPLK shares. Mizuho lowered their price target on Splunk from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, November 15th. BTIG Research decreased their price objective on Splunk from $132.00 to $105.00 in a report on Wednesday, November 2nd. Oppenheimer decreased their price objective on Splunk from $140.00 to $115.00 in a report on Thursday, December 1st. Rosenblatt Securities decreased their price objective on Splunk to $130.00 in a report on Friday, December 2nd. Finally, Royal Bank of Canada increased their price objective on Splunk from $105.00 to $110.00 in a report on Thursday, December 1st. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Splunk has an average rating of “Moderate Buy” and an average price target of $116.00.

About Splunk

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Splunk, Inc engages in the development and marketing of cloud 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.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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