Splunk Inc (NASDAQ:SPLK) Stake Cut by Fmr LLC

FMR LLC lessened its position in shares of Splunk Inc (NASDAQ:SPLK) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 803,171 shares of the software company’s stock after selling 37,594 shares during the quarter. FMR LLC owned approximately 0.53% of Splunk worth $100,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SPLK. Cable Hill Partners LLC acquired a new stake in shares of Splunk in the first quarter valued at about $25,000. Berman Capital Advisors LLC acquired a new stake in shares of Splunk in the fourth quarter valued at about $29,000. Bessemer Group Inc. grew its position in shares of Splunk by 192.2% in the fourth quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares during the period. Trustcore Financial Services LLC acquired a new stake in shares of Splunk in the first quarter valued at about $37,000. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Splunk in the first quarter valued at about $44,000. Institutional investors own 91.86% of the company’s stock.

In other news, CEO Douglas Merritt sold 13,342 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total transaction of $1,537,131.82. Following the completion of the sale, the chief executive officer now owns 296,211 shares in the company, valued at approximately $34,126,469.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ledger Susan St. sold 2,221 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $119.96, for a total transaction of $266,431.16. Following the sale, the insider now owns 235,094 shares of the company’s stock, valued at approximately $28,201,876.24. The disclosure for this sale can be found here. Insiders have sold a total of 31,813 shares of company stock valued at $3,676,685 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued a “buy” rating on shares of Toronto-Dominion Bank in a research note on Friday, May 24th. Northland Securities set a $6.00 price target on shares of EMCORE and gave the stock a “buy” rating in a research note on Friday, May 24th. Maxim Group reissued a “buy” rating and issued a $148.00 price target (down from $159.00) on shares of Splunk in a research note on Monday, June 3rd. Zacks Investment Research raised shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Needham & Company LLC lifted their target price on shares of ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $144.27.

Shares of SPLK stock traded down $0.25 during trading on Friday, reaching $138.14. The company’s stock had a trading volume of 1,162,067 shares, compared to its average volume of 1,703,127. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.29. The firm has a market cap of $20.78 billion, a P/E ratio of -86.88 and a beta of 2.06. The company has a 50-day simple moving average of $124.00. Splunk Inc has a 1-year low of $83.69 and a 1-year high of $143.70.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, May 23rd. The software company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The business had revenue of $424.90 million during the quarter, compared to analyst estimates of $395.92 million. Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Sell-side analysts anticipate that Splunk Inc will post -0.99 EPS for the current fiscal year.

Splunk 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.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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