Splunk Inc. (NASDAQ:SPLK) Holdings Cut by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its holdings in shares of Splunk Inc. (NASDAQ:SPLKGet Rating) by 67.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,388 shares of the software company’s stock after selling 4,993 shares during the period. Baird Financial Group Inc.’s holdings in Splunk were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its holdings in shares of Splunk by 66.4% during the first quarter. SJS Investment Consulting Inc. now owns 228 shares of the software company’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Splunk by 109.2% during the first quarter. Wolverine Asset Management LLC now owns 235 shares of the software company’s stock valued at $34,000 after buying an additional 2,800 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of Splunk during the second quarter valued at approximately $27,000. First Horizon Advisors Inc. raised its holdings in shares of Splunk by 179.8% during the second quarter. First Horizon Advisors Inc. now owns 319 shares of the software company’s stock valued at $27,000 after buying an additional 205 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Splunk during the first quarter valued at approximately $49,000. Institutional investors own 85.49% of the company’s stock.

Splunk Stock Up 1.3 %

Shares of NASDAQ:SPLK opened at $78.34 on Thursday. The firm has a fifty day moving average of $79.72 and a two-hundred day moving average of $92.28. The firm has a market capitalization of $12.75 billion, a P/E ratio of -12.60 and a beta of 1.43. Splunk Inc. has a 12-month low of $65.00 and a 12-month high of $150.79.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SPLK shares. Citigroup reissued 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 started coverage on Splunk in a report on Tuesday, October 18th. They set an “outperform” rating and a $130.00 target price on the stock. Cowen dropped their target price on Splunk from $110.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, August 25th. Loop Capital dropped their target price on Splunk from $160.00 to $135.00 in a report on Thursday, August 25th. Finally, Argus decreased their price target on shares of Splunk from $171.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.03.

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.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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