Advisors Asset Management Inc. Has $863,000 Position in Splunk Inc. (SPLK)
Advisors Asset Management Inc. increased its position in shares of Splunk Inc. (NASDAQ:SPLK) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,167 shares of the software company’s stock after buying an additional 1,032 shares during the period. Advisors Asset Management Inc.’s holdings in Splunk were worth $863,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. TLP Group LLC bought a new stake in Splunk during the first quarter worth approximately $102,000. Patten Group Inc. raised its stake in shares of Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after buying an additional 75 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock valued at $168,000 after buying an additional 1,200 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Splunk during the first quarter valued at about $200,000. Finally, IFP Advisors Inc raised its stake in shares of Splunk by 6.2% in the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after buying an additional 204 shares in the last quarter.
Splunk Inc. (NASDAQ SPLK) opened at 65.60 on Thursday. The company’s 50 day moving average price is $59.92 and its 200-day moving average price is $61.47. Splunk Inc. has a one year low of $50.64 and a one year high of $69.23. The stock’s market capitalization is $9.12 billion.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $279.96 million for the quarter, compared to analysts’ expectations of $268.72 million. Splunk had a negative return on equity of 75.18% and a negative net margin of 36.81%. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. Analysts expect that Splunk Inc. will post $0.54 earnings per share for the current year.
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SPLK has been the subject of several research analyst reports. Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and raised their target price for the company from $69.00 to $70.00 in a research report on Thursday, June 22nd. Citigroup Inc. raised their target price on Splunk from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Robert W. Baird reaffirmed an “outperform” rating and set a $71.00 target price on shares of Splunk in a research report on Monday, July 10th. Wedbush lowered Splunk from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $72.00 to $63.00 in a research report on Thursday, June 15th. Finally, Zacks Investment Research lowered Splunk from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.53.
In other news, Director Godfrey Sullivan sold 48,750 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $56.94, for a total transaction of $2,775,825.00. Following the transaction, the director now directly owns 843,290 shares in the company, valued at approximately $48,016,932.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David F. Conte sold 1,044 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total value of $64,936.80. Following the transaction, the chief financial officer now owns 207,965 shares in the company, valued at $12,935,423. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 568,281 shares of company stock worth $33,230,490. Insiders own 3.00% of the company’s stock.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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