Private Advisor Group LLC lowered its stake in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 11.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,681 shares of the software company's stock after selling 2,791 shares during the period. Private Advisor Group LLC's holdings in Splunk were worth $2,006,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Investment Advisors Ltd. bought a new stake in shares of Splunk in the 1st quarter worth about $30,000. SJS Investment Consulting Inc. grew its position in shares of Splunk by 66.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company's stock valued at $34,000 after buying an additional 91 shares during the last quarter. Wolverine Asset Management LLC grew its position in shares of Splunk by 109.2% during the 1st quarter. Wolverine Asset Management LLC now owns 235 shares of the software company's stock valued at $34,000 after buying an additional 2,800 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of Splunk during the 2nd quarter valued at about $27,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Splunk during the 1st quarter valued at about $49,000. Institutional investors own 85.49% of the company's stock.
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A number of equities research analysts recently weighed in on the stock. 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 objective for the company. Barclays boosted their price objective on shares of Splunk from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, August 16th. Rosenblatt Securities decreased their target price on shares of Splunk from $152.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, August 25th. Canaccord Genuity Group began coverage on shares of Splunk in a research report on Thursday, July 7th. They issued a "buy" rating and a $130.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Splunk from $125.00 to $117.00 and set a "hold" rating for the company in a research report on Thursday, August 25th. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.39.
Splunk Stock Up 2.1 %
Shares of NASDAQ:SPLK opened at $82.05 on Thursday. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $13.35 billion, a PE ratio of -13.19 and a beta of 1.41. Splunk Inc. has a 52 week low of $78.75 and a 52 week high of $176.66. The firm has a 50 day simple moving average of $99.22 and a 200 day simple moving average of $107.29.Splunk (NASDAQ:SPLK – Get Rating) last issued its quarterly earnings results on Wednesday, August 24th. The software company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.44. The business had revenue of $798.75 million during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.63) EPS. As a group, research analysts expect that Splunk Inc. will post -3.58 earnings per share for the current year.
About Splunk
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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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