Riverhead Capital Management LLC lifted its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 33.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,101 shares of the software company’s stock after acquiring an additional 3,301 shares during the quarter. Riverhead Capital Management LLC’s holdings in Splunk were worth $1,298,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Artisan Partners Limited Partnership increased its position in Splunk by 6.8% in the second quarter. Artisan Partners Limited Partnership now owns 41,873 shares of the software company’s stock worth $4,150,000 after buying an additional 2,657 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in Splunk by 32.4% in the second quarter. Meadow Creek Investment Management LLC now owns 22,484 shares of the software company’s stock worth $2,228,000 after buying an additional 5,500 shares during the last quarter. FMR LLC increased its position in Splunk by 3.6% in the second quarter. FMR LLC now owns 1,592,052 shares of the software company’s stock worth $157,789,000 after buying an additional 54,789 shares during the last quarter. Tiverton Asset Management LLC increased its position in Splunk by 28.6% in the second quarter. Tiverton Asset Management LLC now owns 42,431 shares of the software company’s stock worth $4,205,000 after buying an additional 9,431 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Splunk by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 44,395 shares of the software company’s stock worth $4,400,000 after buying an additional 606 shares during the last quarter. 89.58% of the stock is owned by institutional investors.
In other news, Director Thomas M. Neustaetter sold 4,070 shares of Splunk stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $118.70, for a total value of $483,109.00. Following the transaction, the director now owns 10,981 shares in the company, valued at $1,303,444.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Leonard R. Stein sold 13,890 shares of Splunk stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $117.92, for a total value of $1,637,908.80. Following the completion of the transaction, the senior vice president now owns 118,263 shares in the company, valued at approximately $13,945,572.96. The disclosure for this sale can be found here. Insiders have sold 70,426 shares of company stock worth $8,319,665 in the last 90 days. Company insiders own 0.36% of the company’s stock.
A number of equities analysts have recently commented on SPLK shares. Citigroup lowered Splunk from a “neutral” rating to a “sell” rating in a report on Friday, June 15th. Bank of America lifted their price objective on Splunk from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Maxim Group lifted their price objective on Splunk to $126.00 and gave the company a “buy” rating in a research note on Friday, May 25th. Piper Jaffray Companies lifted their price objective on Splunk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, May 21st. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Splunk in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $121.11.
NASDAQ SPLK opened at $128.64 on Wednesday. Splunk Inc has a twelve month low of $62.39 and a twelve month high of $130.00. The stock has a market cap of $18.58 billion, a price-to-earnings ratio of -98.20 and a beta of 2.06.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Splunk had a negative return on equity of 28.26% and a negative net margin of 20.55%. The business had revenue of $388.30 million for the quarter, compared to the consensus estimate of $358.46 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. equities research analysts forecast that Splunk Inc will post -1.15 EPS for the current fiscal year.
Splunk Company Profile
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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