Splunk Inc (SPLK) Holdings Increased by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its position in Splunk Inc (NASDAQ:SPLK) by 461.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 864 shares of the software company’s stock after acquiring an additional 710 shares during the period. Financial Advocates Investment Management’s holdings in Splunk were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC grew its stake in shares of Splunk by 0.5% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 17,800 shares of the software company’s stock valued at $1,866,000 after buying an additional 87 shares during the period. Utah Retirement Systems grew its stake in shares of Splunk by 0.4% during the 4th quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock valued at $2,841,000 after buying an additional 100 shares during the period. ETRADE Capital Management LLC grew its stake in shares of Splunk by 1.7% during the 4th quarter. ETRADE Capital Management LLC now owns 6,182 shares of the software company’s stock valued at $648,000 after buying an additional 104 shares during the period. Arete Wealth Advisors LLC grew its stake in shares of Splunk by 6.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,955 shares of the software company’s stock valued at $205,000 after buying an additional 118 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after buying an additional 198 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

In other Splunk news, CFO David F. Conte sold 7,820 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.05, for a total value of $1,001,351.00. Following the transaction, the chief financial officer now owns 116,056 shares in the company, valued at approximately $14,860,970.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia Morrison sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $134.44, for a total transaction of $672,200.00. Following the completion of the transaction, the director now owns 26,359 shares in the company, valued at approximately $3,543,703.96. The disclosure for this sale can be found here. Insiders sold a total of 68,193 shares of company stock worth $8,477,525 in the last quarter. 0.36% of the stock is currently owned by company insiders.

NASDAQ:SPLK opened at $123.54 on Tuesday. Splunk Inc has a twelve month low of $83.69 and a twelve month high of $143.70. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 1.14. The firm has a market cap of $18.25 billion, a P/E ratio of -77.70 and a beta of 2.05.

Several brokerages have recently issued reports on SPLK. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Thursday, December 6th. BidaskClub raised shares of Splunk from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. Mizuho began coverage on shares of Splunk in a research note on Wednesday, March 13th. They set a “buy” rating and a $150.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Splunk from $132.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies boosted their price objective on shares of Splunk to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $142.56.

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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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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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