California Public Employees Retirement System cut its holdings in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 351,765 shares of the software company’s stock after selling 9,543 shares during the period. California Public Employees Retirement System owned 0.21% of Splunk worth $30,283,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new stake in Splunk during the fourth quarter valued at approximately $25,000. New England Capital Financial Advisors LLC purchased a new position in shares of Splunk in the fourth quarter worth $25,000. Clear Street Markets LLC purchased a new position in shares of Splunk in the third quarter worth $30,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Splunk in the third quarter worth $37,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of Splunk in the third quarter worth $45,000. 85.71% of the stock is currently owned by institutional investors.
Splunk Trading Up 1.1 %
Splunk stock opened at $85.79 on Thursday. Splunk Inc. has a 12 month low of $65.00 and a 12 month high of $116.84. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of -43.77 and a beta of 1.29. The business’s fifty day simple moving average is $91.02 and its two-hundred day simple moving average is $89.79.
Wall Street Analysts Forecast Growth
SPLK has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of Splunk from $105.00 to $118.00 in a research note on Thursday, March 2nd. Bank of America lifted their target price on shares of Splunk from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Mizuho dropped their target price on shares of Splunk from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, March 2nd. BTIG Research raised their price target on shares of Splunk from $105.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Finally, Guggenheim downgraded shares of Splunk from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 17th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Splunk presently has an average rating of “Moderate Buy” and an average target price of $115.23.
Insider Transactions at Splunk
In other Splunk news, SVP Scott Morgan sold 2,000 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the completion of the sale, the senior vice president now directly owns 115,907 shares in the company, valued at approximately $11,711,243.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Scott Morgan sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 115,907 shares of the company’s stock, valued at approximately $11,711,243.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the sale, the director now owns 14,481 shares in the company, valued at approximately $1,520,505. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Splunk Company 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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