Steward Partners Investment Advisory LLC bought a new stake in Splunk Inc (NASDAQ:SPLK) during the 2nd quarter, HoldingsChannel reports. The fund bought 1,763 shares of the software company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cable Hill Partners LLC bought a new position in shares of Splunk in the first quarter worth about $25,000. Manchester Financial Inc. bought a new position in shares of Splunk in the second quarter worth about $29,000. Whittier Trust Co. grew its holdings in shares of Splunk by 115.0% in the second quarter. Whittier Trust Co. now owns 273 shares of the software company’s stock worth $34,000 after purchasing an additional 146 shares during the last quarter. Trustcore Financial Services LLC bought a new position in shares of Splunk in the first quarter worth about $37,000. Finally, Icon Wealth Partners LLC bought a new position in shares of Splunk in the first quarter worth about $44,000. 92.28% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Douglas Merritt sold 13,342 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total value of $1,537,131.82. Following the sale, the chief executive officer now directly owns 296,211 shares in the company, valued at approximately $34,126,469.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Tully sold 4,624 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $115.59, for a total transaction of $534,488.16. Following the completion of the sale, the senior vice president now owns 117,261 shares in the company, valued at $13,554,198.99. The disclosure for this sale can be found here. Insiders sold a total of 31,813 shares of company stock worth $3,676,685 over the last 90 days. Company insiders own 0.34% of the company’s stock.

A number of research analysts have recently commented on SPLK shares. Needham & Company LLC restated a “buy” rating and issued a $165.00 price target (up from $162.00) on shares of Splunk in a report on Friday, May 24th. Goldman Sachs Group started coverage on shares of Splunk in a report on Friday, June 7th. They issued a “neutral” rating and a $119.00 price target on the stock. ValuEngine cut shares of Splunk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Maxim Group restated a “buy” rating and issued a $148.00 price target (down from $159.00) on shares of Splunk in a report on Monday, June 3rd. Finally, Guggenheim cut their price target on shares of Splunk from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $144.27.

NASDAQ:SPLK opened at $131.72 on Wednesday. Splunk Inc has a fifty-two week low of $83.69 and a fifty-two week high of $143.70. The company has a market cap of $19.55 billion, a PE ratio of -82.84 and a beta of 2.02. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $132.19.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, May 23rd. The software company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The firm had revenue of $424.90 million during the quarter, compared to the consensus estimate of $395.92 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Equities analysts expect that Splunk Inc will post -0.99 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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