Analyst IMS Investment Management Services Ltd. Sells 600 Shares of Splunk Inc (NASDAQ:SPLK)

Analyst IMS Investment Management Services Ltd. trimmed its stake in Splunk Inc (NASDAQ:SPLK) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the software company’s stock after selling 600 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in Splunk were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SPLK. Norges Bank bought a new position in Splunk in the fourth quarter valued at approximately $207,366,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Splunk by 36.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,227,375 shares of the software company’s stock worth $281,162,000 after acquiring an additional 597,306 shares during the period. First Trust Advisors LP boosted its stake in shares of Splunk by 61.3% during the 4th quarter. First Trust Advisors LP now owns 1,452,776 shares of the software company’s stock worth $217,582,000 after acquiring an additional 552,172 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Splunk by 68.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,344,429 shares of the software company’s stock worth $201,355,000 after acquiring an additional 548,012 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Splunk by 7.8% during the 1st quarter. Jennison Associates LLC now owns 6,568,690 shares of the software company’s stock worth $829,166,000 after acquiring an additional 473,790 shares during the period. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Several research analysts have recently commented on the company. Oppenheimer lifted their target price on Splunk from $145.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday. Wedbush lifted their target price on Splunk from $180.00 to $204.00 and gave the stock an “outperform” rating in a research note on Friday. Credit Suisse Group lifted their price target on Splunk from $160.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday. BidaskClub raised Splunk from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. Finally, Stifel Nicolaus lifted their price target on Splunk from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $173.74.

In related news, insider Ledger Susan St. sold 2,047 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $163.19, for a total transaction of $334,049.93. Following the sale, the insider now owns 213,042 shares in the company, valued at approximately $34,766,323.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott Morgan sold 1,724 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $165.00, for a total value of $284,460.00. Following the sale, the senior vice president now owns 88,114 shares in the company, valued at approximately $14,538,810. The disclosure for this sale can be found here. Insiders have sold a total of 105,607 shares of company stock valued at $13,184,846 in the last three months. 0.34% of the stock is owned by insiders.

Shares of Splunk stock traded up $18.95 during trading on Friday, reaching $182.40. 6,430,195 shares of the company’s stock were exchanged, compared to its average volume of 1,503,355. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.15 and a current ratio of 2.15. Splunk Inc has a 1-year low of $93.92 and a 1-year high of $176.31. The company has a market cap of $25.94 billion, a P/E ratio of -81.58 and a beta of 1.52. The firm’s 50-day moving average price is $134.75 and its 200 day moving average price is $142.08.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, May 21st. The software company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.01. Splunk had a negative return on equity of 10.80% and a negative net margin of 14.27%. The company had revenue of $434.08 million during the quarter, compared to analysts’ expectations of $443.60 million. During the same quarter in the previous year, the firm earned $0.02 EPS. Splunk’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Splunk Inc will post -3.23 EPS for the current year.

About Splunk

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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