Intech Investment Management LLC lowered its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 40.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,429 shares of the software company’s stock after selling 8,593 shares during the quarter. Intech Investment Management LLC’s holdings in Splunk were worth $1,070,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Splunk by 4.2% during the fourth quarter. Arizona State Retirement System now owns 46,053 shares of the software company’s stock worth $3,965,000 after buying an additional 1,875 shares in the last quarter. Seven Eight Capital LP acquired a new position in Splunk in the third quarter worth $688,000. Future Fund LLC boosted its stake in Splunk by 6.2% in the third quarter. Future Fund LLC now owns 3,358 shares of the software company’s stock worth $253,000 after purchasing an additional 195 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Splunk during the third quarter worth $444,000. Finally, Biltmore Family Office LLC acquired a new stake in shares of Splunk in the fourth quarter valued at $391,000. 85.71% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on SPLK. Wells Fargo & Company increased their price objective on shares of Splunk from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. StockNews.com upgraded shares of Splunk from a “hold” rating to a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their price objective on Splunk from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 target price on shares of Splunk in a research note on Tuesday, February 28th. Finally, BTIG Research upped their price target on Splunk from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.23.
Splunk Trading Down 0.5 %
Splunk (NASDAQ:SPLK – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The software company reported $1.25 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $1.41. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.07 billion. As a group, analysts forecast that Splunk Inc. will post -0.55 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Elisa Steele sold 3,050 shares of the firm’s 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 transaction, the director now owns 14,481 shares in the company, valued at approximately $1,520,505. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Insiders own 0.17% of the company’s stock.
Splunk Company Profile
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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