Parallel Advisors LLC increased its stake in shares of Splunk Inc (NASDAQ:SPLK) by 16.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 888 shares of the software company’s stock after buying an additional 124 shares during the quarter. Parallel Advisors LLC’s holdings in Splunk were worth $105,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in Splunk in the second quarter valued at $25,000. Motco purchased a new stake in Splunk in the second quarter valued at $27,000. Quest Capital Management Inc. ADV purchased a new stake in Splunk in the third quarter valued at $27,000. HM Payson & Co. purchased a new stake in Splunk in the second quarter valued at $28,000. Finally, Manchester Financial Inc. purchased a new stake in Splunk in the second quarter valued at $29,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
A number of equities research analysts have recently weighed in on SPLK shares. Bank of America reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Splunk in a research note on Thursday, September 19th. UBS Group set a $150.00 price objective on Splunk and gave the company a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird cut Splunk from an “outperform” rating to a “neutral” rating and set a $127.00 price objective for the company. in a research note on Thursday, August 22nd. Maxim Group set a $148.00 price objective on Splunk and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Splunk in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $148.76.
Splunk (NASDAQ:SPLK) last released its earnings results on Wednesday, August 21st. The software company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.16. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The firm had revenue of $516.56 million during the quarter, compared to analysts’ expectations of $488.97 million. During the same period in the previous year, the firm posted $0.08 EPS. Splunk’s revenue for the quarter was up 33.0% on a year-over-year basis. Equities analysts expect that Splunk Inc will post -0.88 EPS for the current year.
In other Splunk news, CEO Douglas Merritt sold 13,341 shares of Splunk stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $115.20, for a total transaction of $1,536,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Timothy Emanuelson sold 529 shares of Splunk stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $120.46, for a total value of $63,723.34. Following the sale, the chief accounting officer now directly owns 27,394 shares of the company’s stock, valued at $3,299,881.24. The disclosure for this sale can be found here. Insiders have sold a total of 18,261 shares of company stock valued at $2,106,494 over the last three months. 0.34% of the stock is currently owned by insiders.
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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