Commerce Bank Grows Holdings in Splunk Inc. (NASDAQ:SPLK)

Commerce Bank grew its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 24.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,642 shares of the software company’s stock after acquiring an additional 897 shares during the period. Commerce Bank’s holdings in Splunk were worth $672,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Splunk by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,612,153 shares of the software company’s stock valued at $2,112,624,000 after buying an additional 98,749 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Splunk by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,005,663 shares of the software company’s stock valued at $289,539,000 after buying an additional 89,839 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Splunk by 18.4% during the 2nd quarter. Legal & General Group Plc now owns 1,467,486 shares of the software company’s stock valued at $212,169,000 after buying an additional 227,834 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Splunk by 34.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,384,042 shares of the software company’s stock valued at $200,285,000 after buying an additional 358,205 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its stake in Splunk by 6.5% during the third quarter. Sarasin & Partners LLP now owns 1,261,718 shares of the software company’s stock worth $182,583,000 after purchasing an additional 77,175 shares during the last quarter. Institutional investors own 83.80% of the company’s stock.

In related news, SVP Scott Morgan sold 838 shares of the stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $112.05, for a total value of $93,897.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Graham Smith sold 1,500 shares of the stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $170.00, for a total value of $255,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,697 shares of company stock valued at $403,645 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on SPLK. Morgan Stanley reduced their price objective on Splunk from $160.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 2nd. Barclays reduced their price objective on Splunk from $184.00 to $160.00 in a research note on Wednesday. BMO Capital Markets reduced their price objective on Splunk from $170.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, December 2nd. Needham & Company LLC reduced their price objective on Splunk from $203.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, December 2nd. Finally, JMP Securities restated a “buy” rating and set a $174.00 price objective on shares of Splunk in a research note on Thursday, December 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $166.07.

NASDAQ:SPLK opened at $122.62 on Friday. The business’s 50-day moving average price is $123.89 and its 200 day moving average price is $140.71. The firm has a market cap of $19.47 billion, a P/E ratio of -14.90 and a beta of 1.30. Splunk Inc. has a 52-week low of $105.45 and a 52-week high of $178.18. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 17.42.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Wednesday, December 1st. The software company reported ($0.37) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.36) by $0.99. Splunk had a negative return on equity of 89.54% and a negative net margin of 53.14%. The business had revenue of $664.75 million during the quarter, compared to analyst estimates of $646.52 million. During the same quarter last year, the company posted ($0.96) EPS. Splunk’s revenue for the quarter was up 19.0% on a year-over-year basis. Sell-side analysts expect that Splunk Inc. will post -5.9 EPS for the current 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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