Raymond James Financial Services Advisors Inc. Raises Stock Position in Splunk Inc. (NASDAQ:SPLK)

Raymond James Financial Services Advisors Inc. boosted its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,092 shares of the software company’s stock after acquiring an additional 4,918 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Splunk were worth $2,564,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPLK. MetLife Investment Management LLC purchased a new position in Splunk during the first quarter valued at approximately $1,527,000. Raymond James Trust N.A. raised its position in Splunk by 34.4% during the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after purchasing an additional 1,268 shares in the last quarter. Prudential PLC bought a new stake in Splunk during the first quarter worth about $357,000. National Pension Service increased its position in shares of Splunk by 8.1% during the 1st quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after purchasing an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Splunk during the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.

Insider Activity

In other news, SVP Scott Morgan sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $88.13, for a total transaction of $88,130.00. Following the sale, the senior vice president now owns 122,953 shares of the company’s stock, valued at approximately $10,835,847.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPLK shares. Bank of America decreased their price objective on Splunk from $122.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Needham & Company LLC decreased their price objective on Splunk from $118.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, December 1st. Barclays raised their price objective on Splunk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, December 1st. Wolfe Research started coverage on Splunk in a research report on Monday, November 7th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, StockNews.com started coverage on Splunk in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.00.

Splunk Stock Down 0.1 %

NASDAQ:SPLK opened at $88.80 on Monday. The company’s 50 day moving average price is $83.78 and its 200-day moving average price is $89.17. Splunk Inc. has a 52 week low of $65.00 and a 52 week high of $150.79. The stock has a market cap of $14.54 billion, a price-to-earnings ratio of -20.75 and a beta of 1.30.

Splunk (NASDAQ:SPLK – Get Rating) last posted its quarterly earnings results on Wednesday, November 30th. The software company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.72. Splunk had a negative net margin of 20.81% and a negative return on equity of 396.11%. The firm had revenue of $929.77 million for the quarter, compared to analysts’ expectations of $845.91 million. As a group, sell-side analysts anticipate that Splunk Inc. will post -2.27 earnings per share for the current year.

Splunk Profile

(Get Rating)

Splunk, Inc engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries.