Tower Research Capital LLC TRC lowered its position in Splunk Inc. (NASDAQ:SPLK) by 28.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,330 shares of the software company’s stock after selling 2,096 shares during the period. Tower Research Capital LLC TRC’s holdings in Splunk were worth $288,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock worth $128,000 after buying an additional 123 shares during the last quarter. Shelton Capital Management purchased a new stake in Splunk during the second quarter worth approximately $206,000. Mizuho Asset Management Co. Ltd. purchased a new stake in Splunk during the second quarter worth approximately $219,000. Independent Portfolio Consultants Inc. purchased a new stake in Splunk during the first quarter worth approximately $253,000. Finally, Motley Fool Asset Management LLC purchased a new stake in Splunk during the second quarter worth approximately $271,000. Institutional investors and hedge funds own 99.57% of the company’s stock.
Shares of Splunk Inc. (NASDAQ:SPLK) opened at 59.21 on Thursday. Splunk Inc. has a 52-week low of $29.85 and a 52-week high of $66.90. The stock’s market cap is $7.97 billion. The firm has a 50-day moving average of $61.14 and a 200-day moving average of $55.08.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative net margin of 42.84% and a negative return on equity of 38.45%. The business’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. On average, equities analysts expect that Splunk Inc. will post $0.29 EPS for the current fiscal year.
A number of analysts have recently commented on SPLK shares. Deutsche Bank AG restated a “buy” rating and set a $60.00 price objective on shares of Splunk in a report on Friday, May 27th. Canaccord Genuity restated a “buy” rating and set a $65.00 price objective (up from $60.00) on shares of Splunk in a report on Friday, May 27th. Citigroup Inc. restated a “buy” rating and set a $62.00 price objective (up from $53.00) on shares of Splunk in a report on Friday, May 27th. Maxim Group restated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Splunk in a report on Friday, May 27th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Splunk in a research report on Sunday, May 29th. Eleven research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Splunk presently has an average rating of “Buy” and a consensus target price of $68.15.
In other news, insider Douglas Merritt sold 6,155 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.10, for a total value of $357,605.50. Following the sale, the insider now directly owns 164,117 shares in the company, valued at approximately $9,535,197.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leonard R. Stein sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $60.00, for a total transaction of $64,500.00. Following the completion of the sale, the senior vice president now owns 115,262 shares in the company, valued at $6,915,720. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Splunk Company Profile
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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