Splunk Inc. (NASDAQ:SPLK) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 13.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 95,174 shares of the software company’s stock after selling 15,230 shares during the period. Fred Alger Management LLC owned approximately 0.06% of Splunk worth $7,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in shares of Splunk by 7,606.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,369,626 shares of the software company’s stock valued at $102,996,000 after purchasing an additional 1,351,853 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Splunk by 68.5% in the 2nd quarter. Whale Rock Capital Management LLC now owns 2,748,086 shares of the software company’s stock valued at $243,096,000 after acquiring an additional 1,117,545 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Splunk by 984.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 818,324 shares of the software company’s stock valued at $72,389,000 after acquiring an additional 742,850 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Splunk by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after acquiring an additional 628,288 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Splunk in the 3rd quarter valued at approximately $44,450,000. 85.71% of the stock is owned by institutional investors and hedge funds.

Splunk Stock Up 0.3 %

Shares of NASDAQ SPLK opened at $89.70 on Wednesday. Splunk Inc. has a 12 month low of $65.00 and a 12 month high of $150.79. The company has a market cap of $14.68 billion, a price-to-earnings ratio of -45.77 and a beta of 1.29. The business has a fifty day simple moving average of $97.35 and a 200-day simple moving average of $87.97.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SPLK shares. TheStreet upgraded Splunk from a “d” rating to a “c-” rating in a report on Thursday, March 2nd. Royal Bank of Canada upped their price objective on Splunk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Stifel Nicolaus lowered their price objective on Splunk from $115.00 to $97.00 in a research note on Thursday, December 1st. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Splunk in a research note on Tuesday, February 28th. Finally, Guggenheim cut Splunk from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 17th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Splunk presently has a consensus rating of “Moderate Buy” and an average target price of $115.23.

Splunk Company 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.