Splunk Inc (NASDAQ:SPLK) Shares Sold by O Shares Investment Advisers LLC
O Shares Investment Advisers LLC cut its stake in Splunk Inc (NASDAQ:SPLK) by 25.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,525 shares of the software company’s stock after selling 1,527 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Splunk were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in SPLK. Cable Hill Partners LLC bought a new stake in Splunk during the first quarter valued at approximately $25,000. Berman Capital Advisors LLC bought a new stake in Splunk during the fourth quarter valued at approximately $29,000. Trustcore Financial Services LLC bought a new stake in Splunk during the first quarter valued at approximately $37,000. Bessemer Group Inc. grew its position in Splunk by 192.2% during the fourth quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after buying an additional 198 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Splunk during the first quarter valued at approximately $43,000.
SPLK has been the subject of several recent research reports. BidaskClub lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Wedbush lifted their price target on shares of Splunk from $159.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Northland Securities reaffirmed a “buy” rating and set a $160.00 price target on shares of Splunk in a report on Friday, May 24th. Mizuho assumed coverage on shares of Splunk in a report on Wednesday, March 13th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Barclays lifted their price target on shares of Splunk from $154.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $144.27.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 23rd. The software company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Splunk had a negative return on equity of 14.98% and a negative net margin of 16.31%. The company had revenue of $424.90 million during the quarter, compared to analysts’ expectations of $395.92 million. During the same period last year, the firm posted ($0.07) EPS. Splunk’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, research analysts predict that Splunk Inc will post -0.99 EPS for the current fiscal year.
In other news, SVP Timothy Tully sold 6,655 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $128.06, for a total value of $852,239.30. Following the transaction, the senior vice president now owns 127,727 shares of the company’s stock, valued at $16,356,719.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John G. Connors sold 42,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $124.10, for a total transaction of $5,212,200.00. Following the completion of the transaction, the director now directly owns 70,720 shares in the company, valued at approximately $8,776,352. The disclosure for this sale can be found here. Insiders sold 66,361 shares of company stock worth $8,315,190 in the last three months. Insiders own 0.36% of the company’s stock.
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Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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