Diversified Trust Co Increases Position in Splunk Inc. (NASDAQ:SPLK)
Diversified Trust Co raised its stake in Splunk Inc. (NASDAQ:SPLK) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,806 shares of the software company’s stock after buying an additional 400 shares during the period. Diversified Trust Co’s holdings in Splunk were worth $217,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in SPLK. 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 valued at $431,791,000 after buying an additional 6,809,349 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Splunk by 2,492.5% in the first quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock valued at $84,102,000 after buying an additional 1,298,074 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Splunk by 113.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,510,716 shares of the software company’s stock valued at $94,103,000 after buying an additional 804,201 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Splunk by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 2,813,593 shares of the software company’s stock valued at $175,258,000 after buying an additional 669,929 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Splunk during the fourth quarter valued at $29,361,000.
Shares of Splunk Inc. (NASDAQ:SPLK) opened at 58.89 on Wednesday. The firm’s market cap is $8.15 billion. The firm has a 50-day moving average price of $58.98 and a 200-day moving average price of $61.15. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The company’s revenue was up 30.4% compared to the same quarter last year. Analysts predict that Splunk Inc. will post $0.52 EPS for the current fiscal year.
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Several research analysts have recently weighed in on SPLK shares. BTIG Research assumed coverage on Splunk in a research note on Monday, April 17th. They set a “buy” rating and a $80.00 target price for the company. Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and increased their price objective for the company from $69.00 to $70.00 in a research note on Thursday, June 22nd. Citigroup Inc. increased their price objective on Splunk from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Zacks Investment Research downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Wedbush downgraded Splunk from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $72.00 to $63.00 in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.77.
In related news, CFO David F. Conte sold 1,044 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $62.20, for a total value of $64,936.80. Following the completion of the transaction, the chief financial officer now owns 207,965 shares of the company’s stock, valued at $12,935,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Godfrey Sullivan sold 4,236 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $61.77, for a total value of $261,657.72. Following the completion of the transaction, the director now directly owns 818,456 shares of the company’s stock, valued at approximately $50,556,027.12. The disclosure for this sale can be found here. Insiders sold 358,056 shares of company stock valued at $20,784,524 in the last ninety days. Company insiders own 3.00% of the company’s stock.
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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