Handelsbanken Fonder AB grew its holdings in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 93.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,570 shares of the software company’s stock after buying an additional 15,280 shares during the quarter. Handelsbanken Fonder AB’s holdings in Splunk were worth $2,718,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPLK. Trifecta Capital Advisors LLC bought a new stake in Splunk in the fourth quarter worth about $25,000. New England Capital Financial Advisors LLC bought a new position in Splunk in the fourth quarter worth approximately $25,000. Clear Street Markets LLC purchased a new position in shares of Splunk during the third quarter valued at $30,000. Pinnacle Financial Partners Inc. bought a new stake in shares of Splunk in the 3rd quarter valued at about $37,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Splunk in the 3rd quarter worth approximately $45,000. 85.71% of the stock is currently owned by hedge funds and other institutional investors.
Splunk Stock Performance
NASDAQ SPLK opened at $82.53 on Friday. The firm has a market capitalization of $13.66 billion, a P/E ratio of -42.11 and a beta of 1.29. The stock has a 50-day simple moving average of $92.36 and a two-hundred day simple moving average of $89.46. Splunk Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $122.07.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Splunk from $105.00 to $118.00 in a research note on Thursday, March 2nd. Needham & Company LLC boosted their price target on Splunk from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. BMO Capital Markets raised their price objective on Splunk from $100.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Wells Fargo & Company boosted their target price on shares of Splunk from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. Finally, Royal Bank of Canada raised their price target on shares of Splunk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.23.
Insider Buying and Selling
In other Splunk news, Director Elisa Steele sold 3,050 shares of Splunk stock in a transaction on Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the transaction, the director now owns 14,481 shares of the company’s stock, valued at $1,520,505. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Splunk news, SVP Scott Morgan sold 2,000 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the transaction, the senior vice president now owns 115,907 shares in the company, valued at $11,711,243.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the sale, the director now owns 14,481 shares of the company’s stock, valued at $1,520,505. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.
Splunk Profile
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.
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