Arden Trust Co Sells 1,082 Shares of Splunk Inc (NASDAQ:SPLK)

Arden Trust Co lowered its stake in Splunk Inc (NASDAQ:SPLK) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,962 shares of the software company’s stock after selling 1,082 shares during the period. Arden Trust Co’s holdings in Splunk were worth $933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Splunk by 3.7% in the third quarter. Envestnet Asset Management Inc. now owns 199,051 shares of the software company’s stock valued at $37,447,000 after purchasing an additional 7,093 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its position in shares of Splunk by 35.8% in the third quarter. Redpoint Investment Management Pty Ltd now owns 1,501 shares of the software company’s stock valued at $282,000 after acquiring an additional 396 shares during the period. Atria Investments LLC bought a new stake in shares of Splunk in the second quarter valued at approximately $1,753,000. Private Advisor Group LLC acquired a new stake in shares of Splunk in the second quarter worth $552,000. Finally, Kistler Tiffany Companies LLC increased its position in Splunk by 48.4% during the second quarter. Kistler Tiffany Companies LLC now owns 742 shares of the software company’s stock worth $147,000 after acquiring an additional 242 shares during the period. Institutional investors own 93.27% of the company’s stock.

Splunk stock opened at $207.20 on Friday. The stock has a 50-day simple moving average of $196.92 and a 200 day simple moving average of $180.00. The stock has a market capitalization of $33.23 billion, a price-to-earnings ratio of -50.41 and a beta of 1.55. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.35. Splunk Inc has a 12-month low of $93.92 and a 12-month high of $225.89.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Wednesday, August 26th. The software company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.79. Splunk had a negative net margin of 27.62% and a negative return on equity of 25.57%. The firm had revenue of $491.66 million during the quarter, compared to analysts’ expectations of $520.28 million. During the same quarter last year, the company posted $0.30 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Splunk Inc will post -3.47 EPS for the current year.

Several research analysts have recently issued reports on SPLK shares. UBS Group downgraded shares of Splunk from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $242.00 to $165.00 in a report on Wednesday. Rosenblatt Securities boosted their price target on Splunk from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price objective on Splunk from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Credit Suisse Group lifted their price objective on Splunk from $190.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, ValuEngine upgraded Splunk from a “hold” rating to a “buy” rating in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-four have issued a buy rating to the company. Splunk currently has an average rating of “Buy” and an average target price of $223.51.

In other Splunk news, CEO Douglas Merritt sold 13,709 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $218.10, for a total transaction of $2,989,932.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ledger Susan St. sold 14,554 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $186.92, for a total value of $2,720,433.68. Following the completion of the transaction, the insider now owns 179,079 shares in the company, valued at $33,473,446.68. The disclosure for this sale can be found here. In the last three months, insiders sold 98,656 shares of company stock valued at $18,856,518. 0.21% of the stock is currently owned by company insiders.

Splunk Company Profile

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.

See Also: Earnings Per Share

Want to see what other hedge funds are holding SPLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Splunk Inc (NASDAQ:SPLK).

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.