Westside Investment Management Inc. Boosts Stake in Splunk Inc. (SPLK)
Westside Investment Management Inc. grew its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,983 shares of the software company’s stock after acquiring an additional 15 shares during the period. Westside Investment Management Inc.’s holdings in Splunk were worth $518,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Patten Group Inc. lifted its position in shares of Splunk by 3.6% during the 1st quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after acquiring an additional 75 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of 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 acquiring an additional 656 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Splunk during the 1st quarter valued at approximately $200,000. IFP Advisors Inc lifted its position in shares of 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 acquiring an additional 204 shares during the period. Finally, Diversified Trust Co lifted its position in shares of Splunk by 11.7% during the 2nd quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock valued at $217,000 after acquiring an additional 400 shares during the period.
A number of equities research analysts have recently issued reports on SPLK shares. Cowen and Company reiterated a “buy” rating on shares of Splunk in a research report on Friday, August 18th. Maxim Group restated a “buy” rating and set a $85.00 price objective on shares of Splunk in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $80.00 price objective on shares of Splunk in a research report on Friday, August 25th. Credit Suisse Group began coverage on Splunk in a research report on Tuesday, September 5th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Susquehanna Bancshares Inc upgraded Splunk from a “neutral” rating to a “positive” rating and set a $68.00 price objective for the company in a research report on Friday, August 25th. Twelve research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Splunk currently has an average rating of “Buy” and a consensus price target of $73.06.
Shares of Splunk Inc. (NASDAQ SPLK) traded up 0.63% during mid-day trading on Friday, reaching $66.85. 816,094 shares of the company were exchanged. Splunk Inc. has a 12 month low of $50.64 and a 12 month high of $69.61. The firm’s 50-day moving average is $66.13 and its 200-day moving average is $62.47. The company’s market capitalization is $9.36 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same quarter in the prior year, the business posted $0.05 EPS. Splunk’s quarterly revenue was up 31.6% on a year-over-year basis. On average, equities analysts forecast that Splunk Inc. will post $0.54 earnings per share for the current fiscal year.
In related news, Director Godfrey Sullivan sold 40,000 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $57.69, for a total value of $2,307,600.00. Following the transaction, the director now directly owns 789,540 shares in the company, valued at approximately $45,548,562.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David F. Conte sold 10,525 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 588,881 shares of company stock worth $37,078,452. 1.43% of the stock is currently owned by company insiders.
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Splunk Company Profile
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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