Wedbush Securities Inc. trimmed its stake in shares of Splunk Inc (NASDAQ:SPLK) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,992 shares of the software company’s stock after selling 857 shares during the period. Wedbush Securities Inc.’s holdings in Splunk were worth $235,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SPLK. Envestnet Asset Management Inc. raised its position in Splunk by 24.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 144,511 shares of the software company’s stock valued at $17,032,000 after purchasing an additional 28,310 shares during the last quarter. Strategic Advisors LLC acquired a new position in Splunk during the 3rd quarter valued at about $532,000. Commerzbank Aktiengesellschaft FI boosted its stake in Splunk by 12.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 20,442 shares of the software company’s stock valued at $2,409,000 after purchasing an additional 2,271 shares during the last quarter. Winfield Associates Inc. boosted its stake in Splunk by 5.4% during the 3rd quarter. Winfield Associates Inc. now owns 13,980 shares of the software company’s stock valued at $1,648,000 after purchasing an additional 710 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Splunk by 14.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,383 shares of the software company’s stock valued at $1,223,000 after purchasing an additional 1,277 shares during the last quarter. 90.97% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on SPLK. UBS Group set a $150.00 price target on Splunk and gave the company a “buy” rating in a research note on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $167.00 price target on shares of Splunk in a research note on Thursday, September 19th. ValuEngine downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $157.00 price target on shares of Splunk in a research note on Tuesday, October 8th. Finally, Needham & Company LLC cut their price target on Splunk from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $147.13.
Shares of SPLK stock traded up $3.08 on Thursday, hitting $118.08. 58,110 shares of the stock traded hands, compared to its average volume of 1,392,597. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.06 and a quick ratio of 3.06. The company has a market capitalization of $17.68 billion, a PE ratio of -74.36 and a beta of 2.06. Splunk Inc has a 1-year low of $83.69 and a 1-year high of $143.70. The company’s fifty day moving average is $116.27 and its 200 day moving average is $124.77.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.16. Splunk had a negative return on equity of 12.73% and a negative net margin of 15.16%. The business had revenue of $516.56 million for the quarter, compared to analyst estimates of $488.97 million. During the same period in the prior year, the company posted $0.08 EPS. The business’s revenue was up 33.0% compared to the same quarter last year. As a group, equities research analysts expect that Splunk Inc will post -0.83 EPS for the current year.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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