Harvey Capital Management Inc. bought a new stake in Splunk Inc (NASDAQ:SPLK) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the software company’s stock, valued at approximately $249,000.

Other institutional investors have also recently modified their holdings of the company. Taylor Frigon Capital Management LLC lifted its stake in shares of Splunk by 0.5% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 17,800 shares of the software company’s stock worth $1,866,000 after purchasing an additional 87 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Splunk by 0.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,282 shares of the software company’s stock worth $1,183,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems lifted its stake in shares of Splunk by 0.4% during the fourth quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock worth $2,841,000 after purchasing an additional 100 shares in the last quarter. ETRADE Capital Management LLC lifted its stake in shares of Splunk by 1.7% during the fourth quarter. ETRADE Capital Management LLC now owns 6,182 shares of the software company’s stock worth $648,000 after purchasing an additional 104 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its stake in shares of Splunk by 6.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,955 shares of the software company’s stock worth $205,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 93.77% of the company’s stock.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Splunk from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Tuesday, December 18th. BidaskClub lowered Splunk from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Piper Jaffray Companies boosted their price objective on Splunk to $160.00 and gave the company an “overweight” rating in a report on Wednesday, February 27th. BMO Capital Markets boosted their price objective on Splunk from $132.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, March 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their price objective on Splunk from $145.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $142.56.

Shares of NASDAQ SPLK traded down $4.66 during midday trading on Wednesday, hitting $128.86. 965,324 shares of the company’s stock were exchanged, compared to its average volume of 1,460,946. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.07. The company has a market cap of $20.04 billion, a PE ratio of -81.04 and a beta of 2.03. Splunk Inc has a twelve month low of $83.69 and a twelve month high of $143.70.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, February 28th. The software company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The business had revenue of $622.09 million for the quarter, compared to analyst estimates of $562.22 million. Splunk had a negative return on equity of 14.59% and a negative net margin of 15.28%. Sell-side analysts forecast that Splunk Inc will post -1.08 earnings per share for the current fiscal year.

In other news, CFO David F. Conte sold 7,820 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.05, for a total transaction of $1,001,351.00. Following the completion of the transaction, the chief financial officer now directly owns 116,056 shares in the company, valued at $14,860,970.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David F. Conte sold 10,626 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $125.27, for a total value of $1,331,119.02. Following the completion of the sale, the chief financial officer now owns 95,952 shares of the company’s stock, valued at $12,019,907.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,032 shares of company stock valued at $15,824,708. Insiders own 0.36% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Harvey Capital Management Inc. Buys New Holdings in Splunk Inc (SPLK)” was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/harvey-capital-management-inc-buys-new-holdings-in-splunk-inc-splk/2969156.html.

About Splunk

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

Recommended Story: Diversification

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.