Rockefeller Capital Management L.P. cut its position in shares of Splunk Inc (NASDAQ:SPLK) by 28.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536 shares of the software company’s stock after selling 615 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Splunk were worth $193,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its holdings in Splunk by 7.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 25,096 shares of the software company’s stock valued at $3,156,000 after purchasing an additional 1,688 shares during the period. Schroder Investment Management Group grew its holdings in Splunk by 46.9% in the second quarter. Schroder Investment Management Group now owns 908 shares of the software company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Clearstead Advisors LLC purchased a new stake in Splunk in the second quarter valued at approximately $228,000. Hartline Investment Corp grew its holdings in Splunk by 35.9% in the second quarter. Hartline Investment Corp now owns 28,786 shares of the software company’s stock valued at $3,620,000 after purchasing an additional 7,603 shares during the period. Finally, Mizuho Securities USA LLC purchased a new stake in Splunk in the second quarter valued at approximately $516,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
A number of research firms recently issued reports on SPLK. Piper Jaffray Companies restated an “overweight” rating and issued a $160.00 target price on shares of Splunk in a report on Monday, June 24th. Wedbush restated an “outperform” rating and issued a $158.00 target price (down from $163.00) on shares of Splunk in a report on Tuesday, August 20th. Northland Securities restated a “buy” rating and issued a $160.00 target price on shares of Splunk in a report on Friday, May 24th. Argus set a $156.00 price target on shares of Splunk and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Goldman Sachs Group lifted their price target on shares of Splunk from $131.00 to $119.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $145.26.
Splunk (NASDAQ:SPLK) last posted its earnings results on Wednesday, August 21st. The software company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.69%. The business had revenue of $516.56 million for the quarter, compared to analysts’ expectations of $488.97 million. During the same period in the previous year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, sell-side analysts expect that Splunk Inc will post -0.87 earnings per share for the current fiscal year.
In related news, SVP Timothy Tully sold 4,624 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $115.59, for a total value of $534,488.16. Following the sale, the senior vice president now directly owns 117,261 shares of the company’s stock, valued at $13,554,198.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 10,298 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $115.13, for a total transaction of $1,185,608.74. Following the completion of the sale, the insider now directly owns 247,598 shares in the company, valued at $28,505,957.74. The disclosure for this sale can be found here. Insiders sold 31,813 shares of company stock worth $3,676,685 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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