Great Lakes Advisors LLC Lowers Position in Splunk Inc. (SPLK)
Great Lakes Advisors LLC reduced its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 16.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,722 shares of the software company’s stock after selling 18,183 shares during the period. Great Lakes Advisors LLC owned 0.07% of Splunk worth $5,265,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in Splunk during the first quarter valued at approximately $11,058,000. BlueMountain Capital Management LLC boosted its stake in Splunk by 273.1% in the first quarter. BlueMountain Capital Management LLC now owns 8,351 shares of the software company’s stock valued at $409,000 after buying an additional 6,113 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Splunk by 169.2% in the second quarter. BNP Paribas Arbitrage SA now owns 34,220 shares of the software company’s stock valued at $1,854,000 after buying an additional 21,506 shares during the period. British Columbia Investment Management Corp boosted its stake in Splunk by 14.9% in the second quarter. British Columbia Investment Management Corp now owns 150,208 shares of the software company’s stock valued at $8,138,000 after buying an additional 19,497 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Splunk during the second quarter valued at approximately $303,000. 98.58% of the stock is owned by institutional investors.
Shares of Splunk Inc. (NASDAQ:SPLK) traded up 0.42% during trading on Wednesday, reaching $57.62. The company’s stock had a trading volume of 7,601,344 shares. The stock’s 50 day moving average price is $59.05 and its 200-day moving average price is $58.63. Splunk Inc. has a 12 month low of $29.85 and a 12 month high of $65.75. The firm’s market cap is $7.75 billion.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, November 29th. The software company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The firm earned $245 million during the quarter. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. Equities analysts predict that Splunk Inc. will post $0.29 EPS for the current year.
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Several equities research analysts have recently commented on SPLK shares. Morgan Stanley lifted their target price on Splunk from $58.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Royal Bank Of Canada raised their price target on Splunk from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. RBC Capital Markets restated a “buy” rating and issued a $70.00 price target (up from $60.00) on shares of Splunk in a research report on Friday, August 19th. Wedbush restated an “outperform” rating and issued a $70.00 price target (up from $60.00) on shares of Splunk in a research report on Friday, August 19th. Finally, Drexel Hamilton restated a “buy” rating and issued a $85.00 price target on shares of Splunk in a research report on Tuesday, August 23rd. Eleven investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Splunk has a consensus rating of “Buy” and a consensus target price of $67.28.
In other news, SVP Leonard R. Stein sold 1,075 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $60.00, for a total transaction of $64,500.00. Following the transaction, the senior vice president now owns 115,262 shares of the company’s stock, valued at approximately $6,915,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leonard R. Stein sold 3,435 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $58.64, for a total transaction of $201,428.40. Following the transaction, the senior vice president now directly owns 116,437 shares in the company, valued at approximately $6,827,865.68. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Splunk Company Profile
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
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