ProShare Advisors LLC Raises Stake in Splunk Inc. (SPLK)

ProShare Advisors LLC grew its holdings in Splunk Inc. (NASDAQ:SPLK) by 57.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,055 shares of the software company’s stock after purchasing an additional 1,841 shares during the period. ProShare Advisors LLC’s holdings in Splunk were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Patten Group Inc. increased its holdings in shares of Splunk by 3.6% in the 1st quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after purchasing an additional 75 shares during the period. IFP Advisors Inc increased its holdings in shares of Splunk by 6.2% in the 2nd quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of Splunk in the 1st quarter valued at about $230,000. Diversified Trust Co increased its holdings in shares of Splunk by 11.7% in the 2nd quarter. Diversified Trust Co now owns 3,806 shares of the software company’s stock valued at $217,000 after purchasing an additional 400 shares during the period. Finally, Cipher Capital LP acquired a new position in shares of Splunk in the 2nd quarter valued at about $217,000.

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A number of brokerages have recently weighed in on SPLK. Zacks Investment Research upgraded Splunk from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine cut Splunk from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen and Company reissued a “buy” rating on shares of Splunk in a research note on Friday, August 18th. BMO Capital Markets reissued a “buy” rating and issued a $71.00 price target on shares of Splunk in a research note on Wednesday, July 12th. Finally, Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and boosted their price target for the company from $69.00 to $70.00 in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have assigned a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and a consensus price target of $73.06.

Shares of Splunk Inc. (NASDAQ SPLK) opened at 63.48 on Thursday. The firm’s market cap is $8.89 billion. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.61. The stock’s 50 day moving average price is $66.51 and its 200-day moving average price is $62.57.

Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%. The company had revenue of $279.96 million for the quarter, compared to analyst estimates of $268.72 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, analysts forecast that Splunk Inc. will post $0.54 EPS for the current year.

In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $58.84, for a total value of $2,353,600.00. Following the transaction, the director now owns 744,540 shares in the company, valued at $43,808,733.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David F. Conte sold 10,525 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $66.03, for a total value of $694,965.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 588,881 shares of company stock worth $37,776,052. Corporate insiders own 1.43% 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.

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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