Ithaka Group LLC Decreases Stake in Splunk Inc (SPLK)
Ithaka Group LLC trimmed its position in shares of Splunk Inc (NASDAQ:SPLK) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,234 shares of the software company’s stock after selling 7,938 shares during the period. Splunk accounts for approximately 1.7% of Ithaka Group LLC’s holdings, making the stock its 25th biggest position. Ithaka Group LLC owned approximately 0.10% of Splunk worth $9,449,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SPLK. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Splunk by 24.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,375 shares of the software company’s stock valued at $195,000 after purchasing an additional 656 shares during the period. IFP Advisors Inc boosted its stake in Splunk by 6.2% during the 2nd 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 period. Crossmark Global Holdings Inc. acquired a new position in Splunk during the 3rd quarter valued at about $201,000. FDx Advisors Inc. acquired a new position in Splunk during the 3rd quarter valued at about $210,000. Finally, Commonwealth Equity Services Inc acquired a new position in Splunk during the 3rd quarter valued at about $210,000.
Shares of Splunk Inc (SPLK) opened at $81.42 on Wednesday. Splunk Inc has a fifty-two week low of $50.64 and a fifty-two week high of $84.88.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, November 16th. The software company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.59. Splunk had a negative net margin of 32.72% and a negative return on equity of 71.89%. The business had revenue of $328.65 million for the quarter, compared to the consensus estimate of $309.01 million. sell-side analysts predict that Splunk Inc will post -1.3 earnings per share for the current fiscal year.
In related news, insider Ledger Susan St. sold 10,316 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total value of $723,873.72. Following the sale, the insider now directly owns 253,102 shares in the company, valued at approximately $17,760,167.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Godfrey Sullivan sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $68.62, for a total transaction of $2,744,800.00. Following the completion of the sale, the director now owns 585,790 shares in the company, valued at $40,196,909.80. The disclosure for this sale can be found here. Insiders sold a total of 588,672 shares of company stock worth $39,505,760 over the last quarter. Insiders own 1.43% of the company’s stock.
A number of research analysts have issued reports on SPLK shares. BMO Capital Markets reissued an “outperform” rating and set a $69.00 target price (down from $71.00) on shares of Splunk in a research note on Friday, August 4th. Mizuho reissued a “neutral” rating and set a $60.00 target price on shares of Splunk in a research note on Tuesday, August 15th. Zacks Investment Research raised shares of Splunk from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Cowen reissued a “buy” rating on shares of Splunk in a research note on Friday, August 18th. Finally, Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Splunk in a research note on Saturday, August 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company. Splunk currently has an average rating of “Buy” and a consensus price target of $82.11.
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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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