Pier 88 Investment Partners LLC increased its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 24.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,223 shares of the software company’s stock after buying an additional 1,838 shares during the period. Pier 88 Investment Partners LLC’s holdings in Splunk were worth $525,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in SPLK. TLP Group LLC bought a new stake in Splunk during the first quarter valued at about $102,000. Patten Group Inc. raised its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after buying an additional 75 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock valued at $168,000 after buying an additional 1,200 shares in the last quarter. ProShare Advisors LLC bought a new stake in Splunk during the first quarter valued at about $200,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in Splunk during the first quarter valued at about $204,000.
Shares of Splunk Inc. (NASDAQ SPLK) traded up 0.38% during midday trading on Monday, hitting $60.07. The stock had a trading volume of 2,305,991 shares. The firm’s 50 day moving average price is $61.66 and its 200 day moving average price is $60.34. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.23. The firm’s market cap is $8.31 billion.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS. On average, equities research analysts expect that Splunk Inc. will post $0.52 earnings per share for the current year.
Several analysts have issued reports on the company. Drexel Hamilton reissued a “buy” rating and set a $93.00 price target on shares of Splunk in a report on Thursday. Royal Bank Of Canada reissued a “buy” rating on shares of Splunk in a report on Friday, April 21st. Robert W. Baird set a $71.00 price target on Splunk and gave the company a “buy” rating in a report on Saturday, May 27th. UBS AG set a $72.00 price target on Splunk and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, BTIG Research assumed coverage on Splunk in a report on Monday, April 17th. They set a “buy” rating and a $80.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $71.26.
In other news, CFO David F. Conte sold 1,044 shares of Splunk stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total transaction of $64,936.80. Following the sale, the chief financial officer now owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Godfrey Sullivan sold 48,750 shares of Splunk stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $56.94, for a total transaction of $2,775,825.00. Following the sale, the director now directly owns 843,290 shares in the company, valued at approximately $48,016,932.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 358,056 shares of company stock worth $20,784,524. Insiders own 3.00% of the company’s stock.
Splunk Company Profile
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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