3,259 Shares in Splunk Inc. (NASDAQ:SPLK) Purchased by Titleist Asset Management LLC

Titleist Asset Management LLC acquired a new stake in Splunk Inc. (NASDAQ:SPLK) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,259 shares of the software company’s stock, valued at approximately $312,000.

Other hedge funds have also recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in shares of Splunk by 9.9% during the first quarter. Handelsbanken Fonder AB now owns 34,684 shares of the software company’s stock valued at $3,326,000 after acquiring an additional 3,114 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Splunk by 21.2% during the 1st quarter. Brown Advisory Inc. now owns 4,533 shares of the software company’s stock valued at $435,000 after purchasing an additional 793 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Splunk during the 1st quarter worth $284,000. Forsta AP Fonden raised its stake in shares of Splunk by 141.3% during the 1st quarter. Forsta AP Fonden now owns 102,800 shares of the software company’s stock worth $9,856,000 after purchasing an additional 60,200 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Splunk by 33.4% in the 1st quarter. Cerity Partners LLC now owns 4,377 shares of the software company’s stock worth $420,000 after buying an additional 1,096 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.

Insider Activity

In related news, CEO Gary Steele sold 9,600 shares of Splunk stock in a transaction on Friday, July 7th. The shares were sold at an average price of $104.47, for a total value of $1,002,912.00. Following the transaction, the chief executive officer now directly owns 167,254 shares of the company’s stock, valued at $17,473,025.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Scott Morgan sold 4,996 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $104.19, for a total transaction of $520,533.24. Following the completion of the transaction, the senior vice president now directly owns 122,889 shares of the company’s stock, valued at $12,803,804.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary Steele sold 9,600 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $104.47, for a total transaction of $1,002,912.00. Following the sale, the chief executive officer now owns 167,254 shares of the company’s stock, valued at $17,473,025.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,246 shares of company stock valued at $2,391,370. 0.17% of the stock is currently owned by company insiders.

Splunk Stock Up 0.7 %

Splunk stock opened at $123.45 on Thursday. The firm has a fifty day simple moving average of $108.55 and a two-hundred day simple moving average of $99.99. Splunk Inc. has a twelve month low of $65.00 and a twelve month high of $125.91. The company has a market capitalization of $20.70 billion, a PE ratio of -374.09, a P/E/G ratio of 12.26 and a beta of 1.23.

Splunk (NASDAQ:SPLK) 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. Splunk had a negative return on equity of 22.78% and a negative net margin of 0.61%. The company had revenue of $910.59 million during the quarter, compared to analyst estimates of $889.29 million. During the same quarter in the previous year, the company posted ($0.94) EPS. Splunk’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts expect that Splunk Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPLK. Oppenheimer restated an “outperform” rating and set a $115.00 price target on shares of Splunk in a research note on Thursday, August 24th. KeyCorp boosted their target price on Splunk from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Truist Financial reiterated a “buy” rating and set a $130.00 price target on shares of Splunk in a research note on Friday, July 14th. Capital One Financial began coverage on Splunk in a research note on Wednesday, August 9th. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on shares of Splunk from $110.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 24th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.79.

Splunk Company Profile

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.