DAVENPORT & Co LLC reduced its position in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,013 shares of the software company's stock after selling 326 shares during the quarter. DAVENPORT & Co LLC's holdings in Splunk were worth $532,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vulcan Value Partners LLC bought a new stake in shares of Splunk during the 4th quarter valued at approximately $535,507,000. XN LP bought a new stake in shares of Splunk during the 1st quarter valued at approximately $101,262,000. Clearbridge Investments LLC grew its holdings in shares of Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company's stock valued at $855,038,000 after purchasing an additional 628,288 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Splunk during the 1st quarter valued at approximately $63,628,000. Finally, Marshall Wace LLP grew its holdings in shares of Splunk by 319.2% during the 4th quarter. Marshall Wace LLP now owns 545,471 shares of the software company's stock valued at $63,122,000 after purchasing an additional 415,347 shares during the last quarter. 85.49% of the stock is owned by institutional investors.
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Shares of SPLK stock opened at $75.20 on Friday. The firm has a market capitalization of $12.24 billion, a PE ratio of -12.09 and a beta of 1.41. The firm has a fifty day simple moving average of $98.03 and a two-hundred day simple moving average of $106.81. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 14.09. Splunk Inc. has a 12 month low of $75.16 and a 12 month high of $176.66.
Splunk (NASDAQ:SPLK – Get Rating) last announced its quarterly earnings results on Wednesday, August 24th. The software company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.44. The business had revenue of $798.75 million during the quarter, compared to analyst estimates of $747.92 million. Splunk had a negative net margin of 32.85% and a negative return on equity of 396.11%. Splunk's quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.63) EPS. Analysts forecast that Splunk Inc. will post -3.58 EPS for the current fiscal year.Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SPLK. Canaccord Genuity Group began coverage on shares of Splunk in a report on Thursday, July 7th. They set a "buy" rating and a $130.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Splunk from $125.00 to $117.00 and set a "hold" rating on the stock in a report on Thursday, August 25th. Barclays lifted their target price on shares of Splunk from $125.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 16th. Piper Sandler cut their target price on shares of Splunk from $130.00 to $120.00 in a research report on Wednesday, July 13th. Finally, BMO Capital Markets cut their target price on shares of Splunk from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, August 25th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $134.39.
Splunk Company 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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