Synovus Financial Corp decreased its position in Splunk Inc (NASDAQ:SPLK) by 12.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,077 shares of the software company’s stock after selling 3,122 shares during the quarter. Synovus Financial Corp’s holdings in Splunk were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Splunk by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 135,867 shares of the software company’s stock valued at $13,368,000 after acquiring an additional 3,055 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Splunk by 110.9% during the 1st quarter. Principal Financial Group Inc. now owns 20,790 shares of the software company’s stock valued at $2,045,000 after acquiring an additional 10,931 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Splunk during the 1st quarter valued at about $353,000. Suntrust Banks Inc. increased its stake in shares of Splunk by 25.7% during the 1st quarter. Suntrust Banks Inc. now owns 9,772 shares of the software company’s stock valued at $960,000 after acquiring an additional 1,995 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in shares of Splunk by 142.1% during the 2nd quarter. DnB Asset Management AS now owns 30,500 shares of the software company’s stock valued at $3,023,000 after acquiring an additional 17,900 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Splunk stock opened at $105.43 on Monday. The company has a market cap of $15.29 billion, a PE ratio of -80.48 and a beta of 2.15. Splunk Inc has a 52 week low of $65.73 and a 52 week high of $130.00.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The business’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. As a group, sell-side analysts anticipate that Splunk Inc will post -1.15 earnings per share for the current year.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Piper Jaffray Companies upped their price objective on shares of Splunk to $135.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective (up previously from $127.00) on shares of Splunk in a research note on Friday, August 24th. Finally, Monness Crespi & Hardt boosted their target price on Splunk from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $124.03.
In related news, SVP Timothy Tully sold 19,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total transaction of $2,396,286.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David F. Conte sold 15,519 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $125.29, for a total value of $1,944,375.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,032 shares of company stock worth $8,640,864. Corporate insiders own 0.36% of the company’s stock.
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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