MML Investors Services LLC Has $1.01 Million Stock Position in Splunk Inc. (NASDAQ:SPLK)

Posted by Defense World Staff on Mar 4th, 2023

MML Investors Services LLC grew its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,374 shares of the software company’s stock after acquiring an additional 576 shares during the quarter. MML Investors Services LLC’s holdings in Splunk were worth $1,006,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Private Trust Co. NA acquired a new stake in shares of Splunk in the 2nd quarter valued at approximately $27,000. Ronald Blue Trust Inc. acquired a new stake in shares of Splunk in the 2nd quarter valued at approximately $29,000. NuWave Investment Management LLC acquired a new stake in shares of Splunk in the 3rd quarter valued at approximately $29,000. Clear Street Markets LLC acquired a new stake in shares of Splunk in the 3rd quarter valued at approximately $30,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Splunk in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 85.71% of the company’s stock.

Splunk Stock Performance

Shares of SPLK opened at $100.75 on Friday. Splunk Inc. has a 52-week low of $65.00 and a 52-week high of $150.79. The business’s 50 day moving average price is $95.92 and its two-hundred day moving average price is $88.77. The firm has a market cap of $16.49 billion, a PE ratio of -51.40 and a beta of 1.29.

Splunk (NASDAQ:SPLK – Get Rating) last issued its quarterly earnings results on Wednesday, November 30th. The software company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.72. The business had revenue of $929.77 million during the quarter, compared to analyst estimates of $845.91 million. Research analysts predict that Splunk Inc. will post -1.94 EPS for the current fiscal year.

Insider Buying and Selling at Splunk

In other Splunk news, SVP Scott Morgan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $88.13, for a total value of $88,130.00. Following the transaction, the senior vice president now directly owns 122,953 shares of the company’s stock, valued at $10,835,847.89. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SPLK has been the subject of several recent analyst reports. TheStreet raised Splunk from a “d” rating to a “c-” rating in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Splunk in a report on Tuesday. Oppenheimer dropped their price target on Splunk from $140.00 to $115.00 in a research note on Thursday, December 1st. Wolfe Research started coverage on Splunk in a research note on Monday, November 7th. They issued an “outperform” rating and a $90.00 price target on the stock. Finally, Piper Sandler increased their price target on Splunk from $105.00 to $118.00 in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Splunk has an average rating of “Moderate Buy” and an average price target of $119.52.

About Splunk

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Splunk, Inc engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries.