KBC Group NV Acquires 92,175 Shares of Splunk Inc. (SPLK)
KBC Group NV raised its position in shares of Splunk Inc. (NASDAQ:SPLK) by 122.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,458 shares of the software company’s stock after buying an additional 92,175 shares during the period. KBC Group NV owned approximately 0.12% of Splunk worth $9,527,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SPLK. Vanguard Group Inc. increased its stake in 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 buying an additional 480,657 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Splunk by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 6,981,244 shares of the software company’s stock worth $434,861,000 after buying an additional 47,585 shares during the last quarter. BlackRock Inc. increased its stake in 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 buying an additional 6,809,349 shares during the last quarter. Bank of New York Mellon Corp increased its stake in 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 buying an additional 1,128,410 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in 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 buying an additional 16,089 shares during the last quarter.
Shares of Splunk Inc. (SPLK) opened at 59.33 on Monday. The stock’s market capitalization is $8.21 billion. The stock’s 50 day moving average is $59.34 and its 200 day moving average is $61.39. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. Equities research analysts expect that Splunk Inc. will post $0.52 earnings per share for the current fiscal year.
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A number of analysts have commented on SPLK shares. Cowen and Company reiterated a “buy” rating on shares of Splunk in a report on Friday. Susquehanna Bancshares Inc started coverage on shares of Splunk in a report on Wednesday, June 7th. They issued a “neutral” rating and a $68.00 price objective for the company. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Splunk in a report on Saturday. Finally, Wedbush downgraded shares of Splunk from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $63.00 in a report on Thursday, June 15th. Twelve equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $70.77.
In other news, CFO David F. Conte sold 1,044 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were 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 directly owns 207,965 shares in the company, valued at $12,935,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Godfrey Sullivan sold 48,750 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $56.94, for a total transaction of $2,775,825.00. Following the completion of the transaction, the director now owns 843,290 shares of the company’s stock, valued at $48,016,932.60. The disclosure for this sale can be found here. Insiders sold 558,056 shares of company stock valued at $32,554,124 over the last 90 days. Insiders own 3.00% of the company’s stock.
Splunk Company Profile
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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