Van ECK Associates Corp acquired a new position in shares of Splunk Inc. (NASDAQ:SPLK – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,265 shares of the software company’s stock, valued at approximately $313,000.
A number of other hedge funds also recently made changes to their positions in SPLK. Starboard Value LP bought a new position in shares of Splunk during the fourth quarter worth about $160,720,000. Norges Bank bought a new position in shares of Splunk during the fourth quarter worth about $83,922,000. Clearbridge Investments LLC raised its position in shares of Splunk by 12.3% during the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock worth $855,038,000 after acquiring an additional 628,288 shares during the last quarter. Thematics Asset Management bought a new position in shares of Splunk during the fourth quarter worth about $38,949,000. Finally, Cibc World Markets Corp bought a new position in shares of Splunk during the fourth quarter worth about $25,483,000. 86.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
SPLK has been the subject of a number of analyst reports. William Blair initiated coverage on Splunk in a research report on Wednesday, April 19th. They set an “outperform” rating for the company. BMO Capital Markets raised their target price on Splunk from $113.00 to $117.00 in a research note on Thursday, May 25th. Wells Fargo & Company raised their target price on Splunk from $115.00 to $125.00 in a research note on Thursday, May 25th. Royal Bank of Canada raised their target price on Splunk from $120.00 to $125.00 in a research note on Thursday, May 25th. Finally, Barclays raised their target price on Splunk from $122.00 to $130.00 in a research note on Thursday, May 25th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.80.
Splunk Stock Down 0.5 %
Shares of NASDAQ:SPLK opened at $102.34 on Tuesday. The business’s 50 day moving average is $104.32 and its 200 day moving average is $98.03. Splunk Inc. has a 12-month low of $65.00 and a 12-month high of $116.84.
Splunk (NASDAQ:SPLK – Get Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The software company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.12. The business had revenue of $751.51 million for the quarter, compared to the consensus estimate of $719.02 million. Analysts forecast that Splunk Inc. will post -0.17 EPS for the current fiscal year.
Insider Buying and Selling
In related news, SVP Christian Smith sold 1,500 shares of Splunk stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $158,460.00. Following the sale, the senior vice president now directly owns 109,453 shares in the company, valued at $11,562,614.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Splunk news, SVP Christian Smith sold 1,500 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 $158,460.00. Following the sale, the senior vice president now directly owns 109,453 shares in the company, valued at $11,562,614.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elisa Steele sold 288 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were 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 owns 16,970 shares in the company, valued at $1,792,710.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,384 shares of company stock worth $1,712,330. 0.17% of the stock is owned by company insiders.
About Splunk
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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