First Citizens Bank & Trust Co. trimmed its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 40.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,138 shares of the software company’s stock after selling 5,454 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Splunk were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Morgan Stanley grew its stake in Splunk by 16.3% during the 2nd quarter. Morgan Stanley now owns 926,433 shares of the software company’s stock worth $91,819,000 after buying an additional 130,133 shares during the last quarter. ING Groep NV purchased a new position in Splunk during the 2nd quarter worth $297,000. Cowen Inc. grew its stake in Splunk by 66.4% during the 2nd quarter. Cowen Inc. now owns 42,834 shares of the software company’s stock worth $4,245,000 after buying an additional 17,100 shares during the last quarter. Bridgewater Associates LP purchased a new position in Splunk during the 2nd quarter worth $7,962,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Splunk by 152.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after buying an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

In other news, SVP Timothy Tully sold 19,100 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total value of $2,396,286.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark T. Carges sold 2,091 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $124.87, for a total value of $261,103.17. Following the completion of the sale, the director now owns 19,444 shares in the company, valued at approximately $2,427,972.28. The disclosure for this sale can be found here. Insiders sold 69,032 shares of company stock worth $8,640,864 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Shares of SPLK opened at $94.80 on Friday. Splunk Inc has a 52 week low of $63.71 and a 52 week high of $130.00. The stock has a market capitalization of $15.35 billion, a PE ratio of -72.37 and a beta of 2.07.

Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The firm had revenue of $388.30 million for the quarter, compared to the consensus estimate of $358.46 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s revenue was up 38.6% compared to the same quarter last year. As a group, research analysts expect that Splunk Inc will post -1.15 EPS for the current fiscal year.

Several research analysts recently weighed in on SPLK shares. KeyCorp boosted their target price on Splunk from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, October 4th. Bank of America boosted their target price on Splunk from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Rosenblatt Securities restated a “buy” rating and set a $135.00 target price on shares of Splunk in a research note on Sunday, August 26th. Zacks Investment Research downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Finally, JPMorgan Chase & Co. boosted their target price on Splunk from $108.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $124.03.

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.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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