Prelude Capital Management LLC Increases Stock Holdings in Splunk Inc. (NASDAQ:SPLK)

Prelude Capital Management LLC increased its holdings in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 55.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,534 shares of the software company’s stock after acquiring an additional 2,689 shares during the quarter. Prelude Capital Management LLC’s holdings in Splunk were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPLK. Private Trust Co. NA purchased a new stake in Splunk in the second quarter worth $27,000. Ronald Blue Trust Inc. purchased a new position in Splunk during the second quarter valued at $29,000. NuWave Investment Management LLC purchased a new position in Splunk during the third quarter valued at $29,000. Clear Street Markets LLC purchased a new position in Splunk during the third quarter valued at $30,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in Splunk during the third quarter valued at $37,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.

Insider Buying and Selling at Splunk

In other Splunk news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the sale, the senior vice president now directly owns 115,907 shares in the company, valued at approximately $11,711,243.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Splunk news, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the completion of the sale, the director now directly owns 14,481 shares in the company, valued at approximately $1,520,505. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott Morgan sold 2,000 shares of Splunk stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $101.04, for a total value of $202,080.00. Following the transaction, the senior vice president now directly owns 115,907 shares in the company, valued at $11,711,243.28. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Splunk Stock Down 4.1 %

Splunk stock opened at $90.62 on Monday. The business has a 50-day simple moving average of $97.22 and a two-hundred day simple moving average of $88.05. The company has a market cap of $14.83 billion, a P/E ratio of -46.23 and a beta of 1.29. Splunk Inc. has a 52-week low of $65.00 and a 52-week high of $150.79.

Analyst Upgrades and Downgrades

Several brokerages have commented on SPLK. Evercore ISI lowered their price objective on Splunk to $119.00 in a research report on Friday, December 2nd. Cowen raised their price objective on Splunk from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, February 21st. Oppenheimer lowered their price objective on Splunk from $140.00 to $115.00 in a research report on Thursday, December 1st. Stifel Nicolaus lowered their price target on Splunk from $115.00 to $97.00 in a research report on Thursday, December 1st. Finally, JPMorgan Chase & Co. lowered their price target on Splunk to $90.00 in a research report on Monday, November 28th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.23.

Splunk Profile

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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.