Seven Eight Capital LP purchased a new position in Splunk Inc. (NASDAQ:SPLK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,673 shares of the software company’s stock, valued at approximately $835,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Splunk by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,801,598 shares of the software company’s stock worth $672,831,000 after purchasing an additional 480,657 shares during the period. BlackRock Inc. increased its position in shares of Splunk by 5,553.3% in the first quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock worth $431,791,000 after purchasing an additional 6,809,349 shares during the period. Bank of New York Mellon Corp increased its position in shares of Splunk by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 3,942,003 shares of the software company’s stock worth $224,259,000 after purchasing an additional 1,128,410 shares during the period. Bank of America Corp DE increased its position in shares of Splunk by 0.5% in the first quarter. Bank of America Corp DE now owns 3,076,286 shares of the software company’s stock worth $191,622,000 after purchasing an additional 16,089 shares during the period. Finally, State Street Corp increased its position in shares of Splunk by 2.5% in the first quarter. State Street Corp now owns 2,754,762 shares of the software company’s stock worth $171,593,000 after purchasing an additional 67,082 shares during the period.
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In other Splunk news, CFO David F. Conte sold 10,525 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $66.03, for a total value of $694,965.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $67.84, for a total value of $8,734,400.00. Following the completion of the sale, the director now owns 699,540 shares of the company’s stock, valued at approximately $47,456,793.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 563,001 shares of company stock valued at $35,297,294. Company insiders own 3.00% of the company’s stock.
Splunk Inc. (NASDAQ:SPLK) opened at 67.22 on Friday. The firm’s market capitalization is $9.35 billion. The firm has a 50-day moving average price of $62.59 and a 200 day moving average price of $61.87. Splunk Inc. has a 52 week low of $50.64 and a 52 week high of $69.23.
Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The business had revenue of $279.96 million during the quarter, compared to analysts’ expectations of $268.72 million. During the same quarter last year, the business posted $0.05 EPS. The business’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts forecast that Splunk Inc. will post $0.54 earnings per share for the current fiscal year.
A number of brokerages recently commented on SPLK. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Splunk in a research report on Saturday, August 19th. Zacks Investment Research upgraded Splunk from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Mizuho restated a “neutral” rating and issued a $60.00 price target on shares of Splunk in a research report on Tuesday, August 15th. Cowen and Company restated a “buy” rating on shares of Splunk in a research report on Friday, August 18th. Finally, BidaskClub cut Splunk from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Twelve equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Splunk currently has an average rating of “Buy” and a consensus target price of $72.76.
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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