Splunk Inc. (NASDAQ:SPLK) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 117.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,272,525 shares of the software company’s stock after acquiring an additional 687,938 shares during the quarter. Ameriprise Financial Inc. owned about 0.77% of Splunk worth $122,010,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Key Financial Inc increased its stake in shares of Splunk by 1,153.8% during the 1st quarter. Key Financial Inc now owns 326 shares of the software company’s stock valued at $31,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP increased its stake in shares of Splunk by 54.1% during the 1st quarter. Allworth Financial LP now owns 353 shares of the software company’s stock valued at $34,000 after acquiring an additional 124 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Splunk by 191.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 364 shares of the software company’s stock valued at $35,000 after acquiring an additional 239 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of Splunk during the 4th quarter valued at about $45,000. Finally, Sandy Spring Bank grew its holdings in shares of Splunk by 24.7% during the 4th quarter. Sandy Spring Bank now owns 545 shares of the software company’s stock worth $47,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Price Performance

Shares of NASDAQ SPLK opened at $120.83 on Monday. Splunk Inc. has a 1-year low of $65.00 and a 1-year high of $125.91. The business’s fifty day moving average price is $109.23 and its two-hundred day moving average price is $100.24. The firm has a market capitalization of $20.26 billion, a PE ratio of -366.15, a P/E/G ratio of 12.00 and a beta of 1.23.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Wednesday, August 23rd. The software company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $889.29 million. During the same quarter in the prior year, the business posted ($0.94) earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts expect that Splunk Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at Splunk

In other news, Director Elisa Steele sold 2,812 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $120.00, for a total value of $337,440.00. Following the completion of the transaction, the director now owns 11,108 shares of the company’s stock, valued at $1,332,960. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Elisa Steele sold 2,812 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $337,440.00. Following the completion of the transaction, the director now owns 11,108 shares of the company’s stock, valued at $1,332,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Smith sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $105.64, for a total value of $158,460.00. Following the transaction, the senior vice president now directly owns 109,453 shares of the company’s stock, valued at approximately $11,562,614.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,246 shares of company stock valued at $2,391,370. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPLK. Piper Sandler boosted their target price on Splunk from $118.00 to $123.00 in a report on Thursday, May 25th. Stifel Nicolaus boosted their target price on Splunk from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, August 24th. BMO Capital Markets boosted their target price on Splunk from $117.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Robert W. Baird boosted their target price on Splunk from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Finally, Mizuho upped their price target on Splunk from $108.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, August 24th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.79.

Splunk 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.