State Treasurer State of Michigan Grows Holdings in Splunk Inc (SPLK)

State Treasurer State of Michigan raised its stake in Splunk Inc (NASDAQ:SPLK) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,000 shares of the software company’s stock after buying an additional 16,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Splunk were worth $14,952,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC acquired a new stake in Splunk during the 4th quarter valued at approximately $29,000. Bessemer Group Inc. grew its holdings in 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 in the last quarter. Captrust Financial Advisors grew its holdings in Splunk by 244.4% during the 4th quarter. Captrust Financial Advisors now owns 427 shares of the software company’s stock valued at $45,000 after buying an additional 303 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in Splunk during the 4th quarter valued at about $56,000. Finally, Financial Advocates Investment Management grew its holdings in Splunk by 461.0% during the 4th quarter. Financial Advocates Investment Management now owns 864 shares of the software company’s stock valued at $61,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

NASDAQ:SPLK traded up $3.30 during mid-day trading on Tuesday, reaching $130.16. The stock had a trading volume of 22,320 shares, compared to its average volume of 1,583,915. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of -81.93 and a beta of 2.03. Splunk Inc has a one year low of $83.69 and a one year high of $143.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.23 and a quick ratio of 3.23.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, February 28th. The software company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). Splunk had a negative net margin of 15.28% and a negative return on equity of 14.59%. The company had revenue of $622.09 million during the quarter, compared to the consensus estimate of $562.22 million. As a group, sell-side analysts anticipate that Splunk Inc will post -1.08 EPS for the current year.

In other Splunk news, General Counsel Scott Morgan sold 1,366 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $124.49, for a total value of $170,053.34. Following the completion of the sale, the general counsel now owns 46,807 shares in the company, valued at $5,827,003.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David F. Conte sold 7,820 shares of the business’s stock in a transaction that occurred 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 directly owns 116,056 shares in the company, valued at $14,860,970.80. The disclosure for this sale can be found here. Insiders sold 124,271 shares of company stock valued at $15,613,440 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

SPLK has been the subject of a number of recent analyst reports. BidaskClub lowered Splunk from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Morgan Stanley set a $121.00 price target on Splunk and gave the company a “hold” rating in a research report on Friday, March 1st. Citigroup lifted their price target on Splunk from $98.00 to $112.00 and gave the company a “sell” rating in a research report on Friday, March 1st. Argus lifted their price target on Splunk to $156.00 and gave the company a “buy” rating in a research report on Friday, March 8th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Splunk in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $143.84.

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About Splunk

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 investigate, monitor, analyze, and act on 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; Splunk Cloud; and Splunk Light, which offers log search and analysis for small IT environments.

Further Reading: Return on Equity (ROE)

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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