Comerica Bank trimmed its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,166 shares of the software company’s stock after selling 595 shares during the period. Comerica Bank’s holdings in Splunk were worth $1,198,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co grew its holdings in Splunk by 3.6% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock valued at $455,000 after purchasing an additional 105 shares in the last quarter. Nicollet Investment Management Inc. grew its holdings in Splunk by 1.5% during the 2nd quarter. Nicollet Investment Management Inc. now owns 8,605 shares of the software company’s stock worth $761,000 after acquiring an additional 125 shares in the last quarter. Prelude Capital Management LLC grew its holdings in Splunk by 2.7% during the 2nd quarter. Prelude Capital Management LLC now owns 4,845 shares of the software company’s stock worth $429,000 after acquiring an additional 129 shares in the last quarter. Captrust Financial Advisors grew its holdings in Splunk by 2.7% during the 1st quarter. Captrust Financial Advisors now owns 5,711 shares of the software company’s stock worth $849,000 after acquiring an additional 149 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in Splunk by 5.3% during the 1st quarter. Toroso Investments LLC now owns 3,094 shares of the software company’s stock worth $460,000 after acquiring an additional 156 shares in the last quarter. 85.71% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SPLK has been the subject of several recent analyst reports. Evercore ISI decreased their price objective on shares of Splunk to $119.00 in a report on Friday, December 2nd. Piper Sandler decreased their price objective on shares of Splunk from $120.00 to $105.00 in a report on Thursday, December 1st. BTIG Research decreased their price objective on shares of Splunk from $132.00 to $105.00 in a report on Wednesday, November 2nd. Truist Financial reduced their price target on shares of Splunk from $145.00 to $130.00 in a research report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Splunk to $90.00 in a research report on Monday, November 28th. Twelve investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.00.
Splunk Trading Up 2.7 %
Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings results on Wednesday, November 30th. The software company reported ($0.02) EPS for the quarter, topping 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 company had revenue of $929.77 million for the quarter, compared to the consensus estimate of $845.91 million. On average, equities research analysts predict that Splunk Inc. will post -2.27 earnings per share for the current year.
Insider Transactions at Splunk
In other news, SVP Scott Morgan sold 1,000 shares of Splunk stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $88.13, for a total value of $88,130.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.
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.
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