Belpointe Asset Management LLC Takes Position in Splunk Inc. (NASDAQ:SPLK)

Belpointe Asset Management LLC purchased a new stake in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 952 shares of the software company’s stock, valued at approximately $82,000.

Several other institutional investors and hedge funds have also modified their holdings of SPLK. Trifecta Capital Advisors LLC bought a new stake in shares of Splunk in the 4th quarter valued at approximately $25,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Splunk in the 4th quarter valued at $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Splunk in the 3rd quarter valued at $45,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Splunk in the 4th quarter valued at $45,000. Finally, Bessemer Group Inc. lifted its stake in shares of Splunk by 138.9% in the 3rd quarter. Bessemer Group Inc. now owns 750 shares of the software company’s stock valued at $56,000 after purchasing an additional 436 shares during the last quarter. 85.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SPLK. Citigroup lifted their price objective on shares of Splunk from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, March 3rd. Wells Fargo & Company raised their price objective on Splunk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, March 2nd. Bank of America raised their price objective on Splunk from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. TheStreet upgraded shares of Splunk from a “d” rating to a “c-” rating in a research note on Thursday, March 2nd. Finally, Barclays raised their target price on shares of Splunk from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Splunk currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.23.

Splunk Stock Performance

Shares of SPLK opened at $96.23 on Friday. The stock has a 50 day simple moving average of $89.87 and a 200 day simple moving average of $90.19. Splunk Inc. has a 52-week low of $65.00 and a 52-week high of $116.84. The firm has a market capitalization of $15.93 billion, a PE ratio of -49.10 and a beta of 1.29.

Splunk (NASDAQ:SPLK – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The software company reported $1.25 EPS for the quarter, beating the consensus estimate of ($0.16) by $1.41. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.07 billion. Equities research analysts predict that Splunk Inc. will post -0.55 EPS for the current fiscal year.

Insider Activity at Splunk

In related news, Director Elisa Steele sold 3,050 shares of Splunk stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the sale, the director now owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Splunk news, SVP Scott Morgan sold 2,000 shares of the stock in a transaction on Monday, March 6th. The shares were 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 owns 115,907 shares in the company, valued at $11,711,243.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 14,481 shares in the company, valued at $1,520,505. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

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.