Pier 88 Investment Partners LLC boosted its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 24.9% during the second quarter, according to its most recent 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 have also recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. raised its stake in Splunk by 513.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,994 shares of the software company’s stock valued at $1,251,000 after buying an additional 18,406 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Splunk by 0.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 30,039 shares of the software company’s stock valued at $1,709,000 after buying an additional 175 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Splunk during the second quarter valued at approximately $688,000. Xact Kapitalforvaltning AB raised its stake in Splunk by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock valued at $1,038,000 after buying an additional 62 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Splunk by 19.2% in the first quarter. Clearbridge Investments LLC now owns 249,605 shares of the software company’s stock valued at $15,548,000 after buying an additional 40,229 shares in the last quarter.
Splunk Inc. (SPLK) opened at 58.20 on Friday. The company has a 50 day moving average of $59.08 and a 200-day moving average of $61.31. The firm’s market cap is $8.05 billion. Splunk Inc. has a one year low of $50.64 and a one year high of $69.23.
Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. During the same quarter last year, the company earned ($0.02) earnings per share. Splunk’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Splunk Inc. will post $0.52 earnings per share for the current year.
Several research firms have issued reports on SPLK. BMO Capital Markets reaffirmed an “outperform” rating and set a $69.00 price objective (down from $71.00) on shares of Splunk in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 price objective on shares of Splunk in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “sell” rating in a report on Thursday, July 27th. Drexel Hamilton reaffirmed a “buy” rating and set a $93.00 price objective on shares of Splunk in a report on Thursday, July 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $71.00 price objective on shares of Splunk in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company. Splunk has an average rating of “Buy” and an average price target of $70.77.
In other news, Director Godfrey Sullivan sold 4,236 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $61.77, for a total transaction of $261,657.72. Following the completion of the sale, the director now owns 818,456 shares of the company’s stock, valued at $50,556,027.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David F. Conte sold 1,044 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $62.20, for a total transaction of $64,936.80. Following the sale, the chief financial officer now directly owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The disclosure for this sale can be found here. Insiders sold 358,056 shares of company stock valued at $20,784,524 in the last ninety days. 3.00% of the stock is owned by corporate insiders.
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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