Harel Insurance Investments & Financial Services Ltd. trimmed its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 30.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 642 shares of the software company's stock after selling 284 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Splunk were worth $57,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew its stake in Splunk by 0.7% during the 1st quarter. Hanson & Doremus Investment Management now owns 11,193 shares of the software company's stock valued at $1,663,000 after purchasing an additional 82 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its holdings in shares of Splunk by 2.4% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 3,877 shares of the software company's stock valued at $576,000 after acquiring an additional 90 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Splunk by 66.4% in the first quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company's stock worth $34,000 after purchasing an additional 91 shares during the period. Keudell Morrison Wealth Management grew its position in shares of Splunk by 2.7% during the 1st quarter. Keudell Morrison Wealth Management now owns 3,576 shares of the software company's stock valued at $531,000 after buying an additional 93 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Splunk by 13.3% during the first quarter. Quadrant Capital Group LLC now owns 808 shares of the software company's stock valued at $120,000 after purchasing an additional 95 shares during the last quarter. 85.49% of the stock is owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
SPLK has been the topic of several recent research reports. Royal Bank of Canada cut their price objective on shares of Splunk from $143.00 to $139.00 in a research report on Thursday, August 25th. Cowen dropped their price target on shares of Splunk from $110.00 to $95.00 and set a "market perform" rating on the stock in a research report on Thursday, August 25th. Canaccord Genuity Group assumed coverage on shares of Splunk in a research report on Thursday, July 7th. They set a "buy" rating and a $130.00 price target on the stock. Piper Sandler dropped their price target on shares of Splunk from $130.00 to $120.00 in a research report on Wednesday, July 13th. Finally, Truist Financial dropped their price target on shares of Splunk from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, August 25th. Nine analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Splunk currently has a consensus rating of "Moderate Buy" and an average price target of $134.39.
Splunk Stock Performance
Splunk stock opened at $75.20 on Friday. The firm's 50 day simple moving average is $98.03 and its 200-day simple moving average is $106.81. The company has a market cap of $12.24 billion, a P/E ratio of -12.09 and a beta of 1.41. The company has a debt-to-equity ratio of 14.09, a current ratio of 1.63 and a quick ratio of 1.63. Splunk Inc. has a fifty-two week low of $75.16 and a fifty-two week high of $176.66.
Splunk (NASDAQ:SPLK – Get Rating) last released its earnings results on Wednesday, August 24th. The software company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.44. The business had revenue of $798.75 million for the quarter, compared to the consensus estimate of $747.92 million. Splunk had a negative net margin of 32.85% and a negative return on equity of 396.11%. The firm's quarterly revenue was up 31.9% compared to the same quarter last year. During the same period last year, the firm posted ($1.63) earnings per share. As a group, equities research analysts predict that Splunk Inc. will post -3.58 EPS for the current year.
Splunk Profile
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Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.
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