Bbva Compass Bancshares Inc. acquired a new position in Splunk Inc (NASDAQ:SPLK) in the third quarter, Holdings Channel reports. The firm acquired 2,052 shares of the software company’s stock, valued at approximately $248,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in shares of Splunk in the second quarter worth $104,000. Point72 Hong Kong Ltd purchased a new position in shares of Splunk in the second quarter worth $110,000. Centaurus Financial Inc. purchased a new position in shares of Splunk in the second quarter worth $124,000. Nvwm LLC purchased a new position in shares of Splunk in the second quarter worth $160,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Splunk by 152.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after buying an additional 996 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.
SPLK has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. KeyCorp lifted their target price on shares of Splunk from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, October 4th. Bank of America lifted their target price on shares of Splunk from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $135.00 target price on shares of Splunk in a research note on Sunday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Splunk from $108.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Splunk currently has a consensus rating of “Buy” and an average price target of $123.63.
Shares of Splunk stock opened at $98.54 on Friday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of -75.22 and a beta of 2.15. Splunk Inc has a 12-month low of $67.01 and a 12-month high of $130.00.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The firm had revenue of $388.30 million for the quarter, compared to the consensus estimate of $358.46 million. Splunk had a negative net margin of 20.55% and a negative return on equity of 26.44%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. As a group, equities research analysts predict that Splunk Inc will post -1.15 earnings per share for the current year.
In other news, Director Mark T. Carges sold 2,091 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $124.87, for a total value of $261,103.17. Following the sale, the director now directly owns 19,444 shares of the company’s stock, valued at approximately $2,427,972.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Merritt sold 23,572 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $124.58, for a total transaction of $2,936,599.76. The disclosure for this sale can be found here. Insiders sold a total of 69,032 shares of company stock worth $8,640,864 over the last ninety days. 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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