HGI Capital Management LLC raised its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 11,810 shares of the software company’s stock after buying an additional 250 shares during the period. HGI Capital Management LLC’s holdings in Splunk were worth $1,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPLK. Cable Hill Partners LLC acquired a new position in shares of Splunk in the 1st quarter valued at $25,000. Berman Capital Advisors LLC acquired a new position in shares of Splunk in the 4th quarter valued at $29,000. Bessemer Group Inc. increased its position in shares of Splunk by 192.2% in the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after acquiring an additional 198 shares during the period. Trustcore Financial Services LLC acquired a new position in shares of Splunk in the 1st quarter valued at $37,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Splunk in the 1st quarter valued at $43,000.

NASDAQ:SPLK opened at $113.99 on Friday. Splunk Inc has a one year low of $83.69 and a one year high of $143.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of -71.69 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last posted its quarterly 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 net margin of 16.31% and a negative return on equity of 15.16%. The business had revenue of $424.90 million during the quarter, compared to analysts’ expectations of $395.92 million. During the same period in the previous year, the company posted ($0.07) earnings per share. Splunk’s revenue for the quarter was up 36.4% compared to the same quarter last year. Sell-side analysts anticipate that Splunk Inc will post -0.99 earnings per share for the current year.

In other news, SVP Timothy Tully sold 6,655 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $128.06, for a total transaction of $852,239.30. Following the sale, the senior vice president now directly owns 127,727 shares of the company’s stock, valued at approximately $16,356,719.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David F. Conte sold 7,820 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 116,056 shares in the company, valued at $14,860,970.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,271 shares of company stock worth $15,613,440. Corporate insiders own 0.36% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub raised Splunk from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Piper Jaffray Companies upped their target price on Splunk to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $162.00 target price (up from $145.00) on shares of Splunk in a research report on Friday, March 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $200.00 target price (up from $170.00) on shares of Splunk in a research report on Friday, March 1st. Finally, Maxim Group upped their target price on Splunk to $159.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the stock. Splunk has an average rating of “Buy” and a consensus target price of $145.48.

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Splunk Company Profile

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.

Further Reading: Insider Trading

Want to see what other hedge funds are holding SPLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Splunk Inc (NASDAQ:SPLK).

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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