M&T Bank Corp Has $490,000 Stake in Splunk Inc. (NASDAQ:SPLK)

M&T Bank Corp lifted its position in Splunk Inc. (NASDAQ:SPLKGet Rating) by 27.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,426 shares of the software company’s stock after purchasing an additional 1,366 shares during the quarter. M&T Bank Corp’s holdings in Splunk were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SPLK. Zions Bancorporation N.A. grew its position in Splunk by 35.5% in the second quarter. Zions Bancorporation N.A. now owns 13,979 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 3,662 shares during the period. Nia Impact Advisors LLC grew its position in Splunk by 11.8% in the second quarter. Nia Impact Advisors LLC now owns 23,884 shares of the software company’s stock valued at $2,113,000 after acquiring an additional 2,520 shares during the period. Parnassus Investments LLC bought a new stake in Splunk in the second quarter valued at $24,092,000. Proem Advisors LLC bought a new stake in Splunk in the second quarter valued at $973,000. Finally, Illinois Municipal Retirement Fund grew its position in Splunk by 1,189.5% in the second quarter. Illinois Municipal Retirement Fund now owns 65,970 shares of the software company’s stock valued at $5,836,000 after acquiring an additional 60,854 shares during the period. 85.49% of the stock is currently owned by institutional investors and hedge funds.

Splunk Stock Performance

NASDAQ:SPLK opened at $85.67 on Monday. The company has a market cap of $13.94 billion, a PE ratio of -13.77 and a beta of 1.43. Splunk Inc. has a 52-week low of $65.00 and a 52-week high of $168.10. The stock has a 50-day simple moving average of $81.35 and a 200 day simple moving average of $94.20.

Splunk (NASDAQ:SPLKGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The software company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.64. The business had revenue of $798.75 million during the quarter, compared to the consensus estimate of $747.92 million. Splunk had a negative return on equity of 396.11% and a negative net margin of 32.85%. Splunk’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period last year, the company earned ($1.63) earnings per share. On average, research analysts predict that Splunk Inc. will post -2.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPLK has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Splunk in a research report on Monday, November 7th. They issued an “outperform” rating and a $90.00 price target on the stock. Citigroup restated a “neutral” rating and set a $118.00 target price (down previously from $120.00) on shares of Splunk in a report on Wednesday, August 3rd. Robert W. Baird began coverage on Splunk in a report on Tuesday, October 18th. They set an “outperform” rating and a $130.00 target price on the stock. Loop Capital decreased their target price on Splunk from $160.00 to $135.00 in a report on Thursday, August 25th. Finally, UBS Group cut Splunk from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $86.00 in a report on Thursday, October 6th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.40.

Splunk Profile

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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.

See Also

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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