Fred Alger Management Inc. raised its position in Splunk Inc. (NASDAQ:SPLK) by 28,246.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,874 shares of the software company’s stock after purchasing an additional 51,691 shares during the period. Fred Alger Management Inc.’s holdings in Splunk were worth $2,951,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Patten Group Inc. grew its holdings in 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 purchasing an additional 75 shares during the last quarter. IFP Advisors Inc grew its holdings in 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 purchasing an additional 204 shares during the last quarter. Diversified Trust Co grew its holdings in Splunk by 11.7% in the second quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock valued at $217,000 after purchasing an additional 400 shares during the last quarter. Cipher Capital LP acquired a new stake in Splunk in the second quarter valued at $217,000. Finally, Achmea Investment Management B.V. acquired a new stake in Splunk in the first quarter valued at $230,000.

A number of analysts recently commented on the company. Zacks Investment Research raised Splunk from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday. Morgan Stanley lowered Splunk from an “overweight” rating to an “equal weight” rating and set a $77.00 price objective on the stock. in a research note on Monday, October 2nd. Cowen and Company reaffirmed a “buy” rating and set a $72.00 price objective on shares of Splunk in a research note on Thursday, September 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $71.00 price objective on shares of Splunk in a research note on Wednesday, September 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of Splunk in a research note on Saturday, August 19th. Twelve investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.06.

In related news, CFO David F. Conte sold 10,525 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $66.03, for a total transaction of $694,965.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $57.69, for a total value of $2,307,600.00. Following the transaction, the director now owns 789,540 shares in the company, valued at $45,548,562.60. The disclosure for this sale can be found here. Insiders have sold 588,881 shares of company stock worth $37,078,452 over the last 90 days. Corporate insiders own 1.43% of the company’s stock.

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Splunk Inc. (NASDAQ SPLK) opened at 66.85 on Friday. Splunk Inc. has a 12 month low of $50.64 and a 12 month high of $69.61. The firm’s market cap is $9.36 billion. The stock has a 50 day moving average price of $66.13 and a 200 day moving average price of $62.47.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The firm had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities analysts expect that Splunk Inc. will post $0.54 earnings per share for the current fiscal year.

About Splunk

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.

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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