L & S Advisors Inc Reduces Position in Splunk Inc (SPLK)

L & S Advisors Inc lessened its position in shares of Splunk Inc (NASDAQ:SPLK) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,250 shares of the software company’s stock after selling 945 shares during the quarter. L & S Advisors Inc’s holdings in Splunk were worth $865,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC grew its stake in Splunk by 0.5% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 17,800 shares of the software company’s stock worth $1,866,000 after buying an additional 87 shares during the last quarter. Utah Retirement Systems grew its stake in shares of Splunk by 0.4% in the 4th quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock valued at $2,841,000 after purchasing an additional 100 shares during the last quarter. ETRADE Capital Management LLC grew its stake in shares of Splunk by 1.7% in the 4th quarter. ETRADE Capital Management LLC now owns 6,182 shares of the software company’s stock valued at $648,000 after purchasing an additional 104 shares during the last quarter. Bessemer Group Inc. grew its stake 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 purchasing an additional 198 shares during the last quarter. Finally, Seelaus Asset Management LLC grew its stake in shares of Splunk by 8.5% in the 4th quarter. Seelaus Asset Management LLC now owns 2,560 shares of the software company’s stock valued at $268,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.

In related news, Director Mark T. Carges sold 2,105 shares of Splunk stock in a transaction on Monday, January 7th. The stock was sold at an average price of $110.00, for a total transaction of $231,550.00. Following the completion of the transaction, the director now directly owns 13,168 shares of the company’s stock, valued at $1,448,480. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David F. Conte sold 7,820 shares of Splunk stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.05, for a total value of $1,001,351.00. Following the transaction, the chief financial officer now directly owns 116,056 shares of the company’s stock, valued at $14,860,970.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,853 shares of company stock valued at $3,929,076. 0.36% of the stock is currently owned by insiders.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Thursday, December 6th. BidaskClub downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group lifted their target price on Splunk from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. BMO Capital Markets lifted their target price on Splunk from $132.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lifted their target price on Splunk to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $141.94.

SPLK stock traded up $0.72 during midday trading on Friday, hitting $127.14. 22,837 shares of the stock were exchanged, compared to its average volume of 1,796,005. The stock has a market cap of $18.81 billion, a PE ratio of -80.05 and a beta of 2.05. Splunk Inc has a fifty-two week low of $83.69 and a fifty-two week high of $143.70. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.84 and a current ratio of 3.84.

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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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