Raine Capital LLC Sells 35,000 Shares of Splunk Inc. (SPLK)
Raine Capital LLC reduced its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 18.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,000 shares of the software company’s stock after selling 35,000 shares during the quarter. Splunk accounts for approximately 6.7% of Raine Capital LLC’s holdings, making the stock its 7th largest holding. Raine Capital LLC owned about 0.11% of Splunk worth $8,534,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Splunk by 1.9% during the 2nd quarter. State Street Corp now owns 2,807,558 shares of the software company’s stock valued at $159,709,000 after buying an additional 52,796 shares during the period. ETF Managers Group LLC purchased a new stake in shares of Splunk during the 2nd quarter valued at about $39,864,000. Janus Henderson Group PLC raised its holdings in shares of Splunk by 149.4% during the 2nd quarter. Janus Henderson Group PLC now owns 48,239 shares of the software company’s stock valued at $2,744,000 after buying an additional 28,896 shares during the period. Fred Alger Management Inc. raised its holdings in shares of Splunk by 28,246.4% during the 2nd quarter. Fred Alger Management Inc. now owns 51,874 shares of the software company’s stock valued at $2,951,000 after buying an additional 51,691 shares during the period. Finally, Williams Jones & Associates LLC raised its holdings in shares of Splunk by 15.7% during the 2nd quarter. Williams Jones & Associates LLC now owns 315,245 shares of the software company’s stock valued at $17,934,000 after buying an additional 42,855 shares during the period.
In other Splunk news, SVP Ledger Susan St. sold 677 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $69.52, for a total value of $47,065.04. Following the transaction, the senior vice president now directly owns 168,376 shares in the company, valued at approximately $11,705,499.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas M. Neustaetter sold 3,614 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $67.70, for a total value of $244,667.80. Following the completion of the transaction, the director now owns 12,871 shares in the company, valued at $871,366.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 588,881 shares of company stock worth $37,078,452. 1.43% of the stock is owned by corporate insiders.
Shares of Splunk Inc. (NASDAQ:SPLK) traded down 0.14% during mid-day trading on Friday, reaching $66.34. The company’s stock had a trading volume of 248,067 shares. The firm’s market capitalization is $9.29 billion. The company has a 50 day moving average of $65.91 and a 200-day moving average of $62.44. Splunk Inc. has a 12 month low of $50.64 and a 12 month high of $69.61.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. Splunk’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. Equities research analysts forecast that Splunk Inc. will post $0.54 EPS for the current year.
Several brokerages recently commented on SPLK. Drexel Hamilton reiterated a “buy” rating and set a $93.00 target price on shares of Splunk in a report on Thursday, July 13th. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday. Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 target price on shares of Splunk in a report on Monday, July 31st. Mitsubishi UFJ Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Splunk in a report on Friday, August 25th. Finally, UBS AG reiterated a “buy” rating and set a $74.00 target price on shares of Splunk in a report on Friday, August 25th. Twelve equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.06.
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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