Mirae Asset Global Investments Co. Ltd. raised its position in Splunk Inc. (NASDAQ:SPLK – Free Report) by 567.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,301 shares of the software company’s stock after purchasing an additional 109,918 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Splunk worth $12,397,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Clearbridge Investments LLC raised its holdings in shares of Splunk by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock worth $855,038,000 after purchasing an additional 628,288 shares during the period. Legal & General Group Plc raised its holdings in shares of Splunk by 8.0% during the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock valued at $198,246,000 after buying an additional 170,233 shares during the period. Geode Capital Management LLC raised its holdings in shares of Splunk by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,127,413 shares of the software company’s stock valued at $182,925,000 after buying an additional 80,359 shares during the period. Starboard Value LP purchased a new stake in shares of Splunk during the 4th quarter valued at about $160,720,000. Finally, Sarasin & Partners LLP raised its holdings in shares of Splunk by 7.8% during the 1st quarter. Sarasin & Partners LLP now owns 1,781,800 shares of the software company’s stock valued at $204,533,000 after buying an additional 129,585 shares during the period. 86.58% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Splunk news, Director Elisa Steele sold 288 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $30,424.32. Following the completion of the transaction, the director now owns 16,970 shares in the company, valued at approximately $1,792,710.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Scott Morgan sold 4,996 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $104.19, for a total value of $520,533.24. Following the sale, the senior vice president now owns 122,889 shares of the company’s stock, valued at approximately $12,803,804.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elisa Steele sold 288 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $105.64, for a total value of $30,424.32. Following the completion of the sale, the director now directly owns 16,970 shares in the company, valued at approximately $1,792,710.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,384 shares of company stock worth $1,712,330. 0.17% of the stock is owned by company insiders.
Splunk Stock Performance
Splunk (NASDAQ:SPLK – Get Free Report) last released its quarterly earnings data on Wednesday, May 24th. The software company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.12. The company had revenue of $751.51 million for the quarter, compared to analyst estimates of $719.02 million. On average, equities research analysts predict that Splunk Inc. will post -0.17 EPS for the current year.
Wall Street Analysts Forecast Growth
SPLK has been the topic of several analyst reports. StockNews.com upgraded Splunk from a “hold” rating to a “buy” rating in a report on Friday, May 26th. BMO Capital Markets lifted their price objective on Splunk from $113.00 to $117.00 in a report on Thursday, May 25th. William Blair began coverage on Splunk in a report on Wednesday, April 19th. They set an “outperform” rating on the stock. Piper Sandler lifted their price objective on Splunk from $118.00 to $123.00 in a report on Thursday, May 25th. Finally, Wedbush restated a “neutral” rating and set a $86.00 price objective on shares of Splunk in a report on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.80.
Splunk Profile
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.
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