Moors & Cabot Inc. lowered its position in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,082 shares of the software company’s stock after selling 2,337 shares during the period. Moors & Cabot Inc.’s holdings in Splunk were worth $1,796,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew its stake in Splunk by 0.7% in the first quarter. Hanson & Doremus Investment Management now owns 11,193 shares of the software company’s stock valued at $1,663,000 after acquiring an additional 82 shares during the period. Roberts Glore & Co. Inc. IL increased its stake in Splunk by 2.4% during the 1st quarter. Roberts Glore & Co. Inc. IL now owns 3,877 shares of the software company’s stock worth $576,000 after purchasing an additional 90 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in Splunk by 66.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in Splunk by 2.7% during the 1st quarter. Keudell Morrison Wealth Management now owns 3,576 shares of the software company’s stock worth $531,000 after buying an additional 93 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Splunk by 13.3% in the first quarter. Quadrant Capital Group LLC now owns 808 shares of the software company’s stock valued at $120,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 85.49% of the company’s stock.
Analyst Upgrades and Downgrades
SPLK has been the topic of several research reports. Barclays boosted their price objective on shares of Splunk from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th. Royal Bank of Canada reduced their price objective on Splunk from $143.00 to $139.00 in a research report on Thursday, August 25th. Canaccord Genuity Group initiated coverage on Splunk in a research report on Thursday, July 7th. They issued a “buy” rating and a $130.00 target price on the stock. Citigroup reaffirmed a “neutral” rating and set a $118.00 price target (down previously from $120.00) on shares of Splunk in a research report on Wednesday, August 3rd. Finally, Morgan Stanley lifted their price objective on shares of Splunk from $128.00 to $133.00 and gave the company an “equal weight” rating in a report on Thursday, August 25th. Nine equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Splunk presently has an average rating of “Moderate Buy” and an average target price of $134.57.
Insider Transactions at Splunk
Splunk Price Performance
Shares of SPLK stock opened at $89.25 on Friday. Splunk Inc. has a 12-month low of $84.63 and a 12-month high of $176.66. The firm has a 50 day moving average price of $101.13 and a two-hundred day moving average price of $110.48. The company has a debt-to-equity ratio of 14.09, a quick ratio of 1.63 and a current ratio of 1.63.
Splunk (NASDAQ:SPLK – Get Rating) last announced its earnings results on Wednesday, August 24th. The software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.44. The company had revenue of $798.75 million for the quarter, compared to analyst estimates of $747.92 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 32.85%. The firm’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter last year, the company earned ($1.63) earnings per share. Research analysts predict that Splunk Inc. will post -3.58 earnings per share for the current year.
Splunk Company Profile
Splunk Inc, together with its subsidiaries, provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.
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