Cerity Partners LLC boosted its stake in Splunk Inc. (NASDAQ:SPLK – Free Report) by 33.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,377 shares of the software company’s stock after buying an additional 1,096 shares during the period. Cerity Partners LLC’s holdings in Splunk were worth $420,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Natixis Advisors L.P. lifted its holdings in Splunk by 18.6% in the first quarter. Natixis Advisors L.P. now owns 141,643 shares of the software company’s stock worth $13,581,000 after buying an additional 22,260 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Splunk by 9.9% during the first quarter. Envestnet Asset Management Inc. now owns 207,089 shares of the software company’s stock valued at $19,856,000 after purchasing an additional 18,587 shares in the last quarter. Bristlecone Advisors LLC increased its stake in shares of Splunk by 17.1% during the first quarter. Bristlecone Advisors LLC now owns 26,348 shares of the software company’s stock valued at $2,526,000 after purchasing an additional 3,839 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Splunk by 7.6% during the first quarter. Rhumbline Advisers now owns 199,125 shares of the software company’s stock valued at $19,092,000 after purchasing an additional 13,992 shares in the last quarter. Finally, Left Brain Wealth Management LLC increased its stake in shares of Splunk by 54.5% during the first quarter. Left Brain Wealth Management LLC now owns 21,648 shares of the software company’s stock valued at $1,867,000 after purchasing an additional 7,639 shares in the last quarter. 87.56% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on SPLK. TD Cowen raised their target price on shares of Splunk from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Splunk from $95.00 to $110.00 in a research note on Thursday, May 25th. TheStreet downgraded shares of Splunk from a “c-” rating to a “d” rating in a research report on Thursday, May 25th. StockNews.com started coverage on shares of Splunk in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Stifel Nicolaus raised their price target on shares of Splunk from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.79.
Insider Buying and Selling at Splunk
In other Splunk news, SVP Christian Smith sold 1,500 shares of Splunk stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.64, for a total value of $158,460.00. Following the sale, the senior vice president now directly owns 109,453 shares in the company, valued at approximately $11,562,614.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Elisa Steele sold 2,812 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $120.00, for a total value of $337,440.00. Following the sale, the director now directly owns 11,108 shares in the company, valued at approximately $1,332,960. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christian Smith sold 1,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $158,460.00. Following the completion of the sale, the senior vice president now owns 109,453 shares in the company, valued at $11,562,614.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,246 shares of company stock worth $2,391,370. Insiders own 0.17% of the company’s stock.
Splunk Stock Performance
SPLK opened at $124.56 on Thursday. Splunk Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $125.51. The firm’s fifty day moving average is $106.74 and its 200 day moving average is $99.26. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of -377.45, a price-to-earnings-growth ratio of 12.07 and a beta of 1.23.
Splunk (NASDAQ:SPLK – Get Free Report) last released its earnings results on Wednesday, August 23rd. The software company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. The company had revenue of $910.59 million for the quarter, compared to analysts’ expectations of $889.29 million. Splunk had a negative net margin of 0.61% and a negative return on equity of 22.78%. Splunk’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.94) EPS. On average, equities research analysts predict that Splunk Inc. will post 0.41 earnings per share for the current year.
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.
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