Wells Fargo & Company MN trimmed its holdings in Splunk Inc. (NASDAQ:SPLK) by 9.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,037,614 shares of the software company’s stock after selling 329,164 shares during the quarter. Wells Fargo & Company MN owned 2.20% of Splunk worth $172,811,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. TLP Group LLC purchased a new stake in Splunk in the first quarter valued at $102,000. Patten Group Inc. raised its position in shares of Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after acquiring an additional 75 shares during the period. ProShare Advisors LLC acquired a new position in shares of Splunk in the first quarter worth about $200,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Splunk in the first quarter worth about $204,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Splunk in the first quarter worth about $217,000.
In other news, SVP Leonard R. Stein sold 4,851 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $58.20, for a total transaction of $282,328.20. Following the completion of the transaction, the senior vice president now owns 103,909 shares in the company, valued at approximately $6,047,503.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Douglas Merritt sold 10,125 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $58.01, for a total transaction of $587,351.25. Following the transaction, the insider now owns 231,440 shares of the company’s stock, valued at approximately $13,425,834.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 563,001 shares of company stock valued at $32,903,895. Insiders own 3.00% of the company’s stock.
A number of research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Splunk in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $80.00 price objective for the company. ValuEngine upgraded shares of Splunk from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. MKM Partners reiterated a “neutral” rating and issued a $68.00 price objective (up previously from $63.00) on shares of Splunk in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $80.00 price objective on shares of Splunk in a research report on Friday, August 25th. Finally, Maxim Group reiterated a “buy” rating and issued a $85.00 price objective on shares of Splunk in a research report on Friday, August 25th. Twelve analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $72.76.
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Shares of Splunk Inc. (SPLK) opened at 67.18 on Friday. The company’s 50-day moving average is $61.66 and its 200-day moving average is $61.74. Splunk Inc. has a 12-month low of $50.64 and a 12-month high of $69.23. The stock’s market cap is $9.34 billion.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 24th. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The firm had revenue of $279.96 million during the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. Splunk’s revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. On average, analysts expect that Splunk Inc. will post $0.54 earnings per share for the current fiscal year.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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