Bray Capital Advisors Boosts Stake in Splunk Inc. (NASDAQ:SPLK)

Bray Capital Advisors lifted its holdings in Splunk Inc. (NASDAQ:SPLK) by 34.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,745 shares of the software company’s stock after buying an additional 1,205 shares during the quarter. Bray Capital Advisors’ holdings in Splunk were worth $643,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Splunk by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,467,295 shares of the software company’s stock valued at $4,323,356,000 after buying an additional 465,111 shares in the last quarter. Clearbridge Investments LLC boosted its position in Splunk by 23.5% during the fourth quarter. Clearbridge Investments LLC now owns 5,447,822 shares of the software company’s stock worth $925,530,000 after purchasing an additional 1,037,630 shares in the last quarter. Norges Bank purchased a new stake in Splunk during the fourth quarter worth $514,722,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Splunk by 16.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,840 shares of the software company’s stock worth $407,199,000 after purchasing an additional 337,942 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Splunk by 40.5% during the fourth quarter. First Trust Advisors LP now owns 2,091,403 shares of the software company’s stock worth $355,308,000 after purchasing an additional 602,881 shares in the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

In other Splunk news, CAO Timothy Emanuelson sold 354 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $141.00, for a total transaction of $49,914.00. Following the sale, the chief accounting officer now owns 24,513 shares in the company, valued at $3,456,333. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Merritt sold 11,222 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $140.83, for a total value of $1,580,394.26. Following the sale, the chief executive officer now owns 252,826 shares in the company, valued at approximately $35,605,485.58. The disclosure for this sale can be found here. Insiders sold 55,535 shares of company stock valued at $7,835,915 in the last three months. 0.34% of the stock is currently owned by company insiders.

SPLK has been the subject of a number of analyst reports. TheStreet cut Splunk from a “c-” rating to a “d+” rating in a report on Friday, March 12th. Barclays cut their price target on Splunk from $220.00 to $206.00 and set an “overweight” rating for the company in a report on Wednesday, March 10th. KeyCorp reissued a “sector weight” rating and issued a $179.00 price target on shares of Splunk in a report on Thursday, April 22nd. Credit Suisse Group initiated coverage on Splunk in a report on Tuesday, March 16th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Zacks Investment Research raised Splunk from a “strong sell” rating to a “hold” rating and set a $180.00 price target for the company in a report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the stock. Splunk presently has an average rating of “Buy” and an average price target of $204.54.

Shares of SPLK opened at $117.09 on Wednesday. The company has a market capitalization of $19.18 billion, a P/E ratio of -23.90 and a beta of 1.44. Splunk Inc. has a one year low of $110.28 and a one year high of $225.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.43 and a current ratio of 2.43. The stock has a 50-day moving average price of $133.19 and a 200 day moving average price of $162.10.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, March 2nd. The software company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.35. The firm had revenue of $745.08 million during the quarter, compared to the consensus estimate of $677.24 million. Splunk had a negative return on equity of 34.13% and a negative net margin of 34.77%. Splunk’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities research analysts forecast that Splunk Inc. will post -4 earnings per share for the current fiscal year.

Splunk Company Profile

Splunk Inc develops and markets software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company offers Splunk Enterprise, a real-time data platform, which include collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud, a cloud service for machine data.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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