Oppenheimer & Co. Inc. raised its position in Splunk Inc. (NASDAQ:SPLK – Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,118 shares of the software company’s stock after buying an additional 119 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Splunk were worth $491,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of SPLK. MetLife Investment Management LLC acquired a new position in Splunk in the 1st quarter valued at $1,527,000. Raymond James Trust N.A. increased its stake in Splunk by 34.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after buying an additional 1,268 shares during the period. Prudential PLC acquired a new position in Splunk in the 1st quarter valued at $357,000. National Pension Service increased its stake in Splunk by 8.1% in the 1st quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after buying an additional 18,834 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in Splunk in the 1st quarter valued at $89,000. 87.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have commented on SPLK shares. UBS Group boosted their target price on shares of Splunk from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, August 24th. StockNews.com started coverage on shares of Splunk in a research report on Thursday, August 17th. They set a “buy” rating on the stock. KeyCorp boosted their target price on shares of Splunk from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Wells Fargo & Company boosted their target price on shares of Splunk from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Finally, Morgan Stanley boosted their target price on shares of Splunk from $110.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 24th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.83.
Insider Activity
In other news, SVP Christian Smith sold 1,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $105.64, for a total transaction of $158,460.00. Following the completion of the transaction, the senior vice president now owns 109,453 shares of the company’s stock, valued at approximately $11,562,614.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Christian Smith sold 1,500 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $105.64, for a total transaction of $158,460.00. Following the completion of the sale, the senior vice president now owns 109,453 shares of the company’s stock, valued at approximately $11,562,614.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Elisa Steele sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $112.00, for a total transaction of $341,600.00. Following the sale, the director now directly owns 13,920 shares of the company’s stock, valued at approximately $1,559,040. The disclosure for this sale can be found here. Insiders sold a total of 19,434 shares of company stock valued at $2,053,930 in the last 90 days. 0.17% of the stock is currently owned by insiders.
Splunk Price Performance
NASDAQ SPLK opened at $117.15 on Tuesday. Splunk Inc. has a 12 month low of $65.00 and a 12 month high of $117.71. The company has a 50-day moving average of $104.13 and a 200-day moving average of $98.45. The company has a market cap of $19.65 billion, a P/E ratio of -355.00 and a beta of 1.28.
Splunk (NASDAQ:SPLK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The software company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. Splunk had a negative net margin of 0.61% and a negative return on equity of 22.78%. The company had revenue of $910.59 million during the quarter, compared to the consensus estimate of $889.29 million. During the same quarter in the prior year, the company posted ($0.94) EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Splunk Inc. will post -0.17 EPS for the current year.
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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