Dimensional Fund Advisors LP Raises Position in Splunk Inc. (NASDAQ:SPLK)

Dimensional Fund Advisors LP increased its holdings in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 12.5% during the third quarter, Holdings Channel.com reports. The firm owned 268,075 shares of the software company’s stock after acquiring an additional 29,725 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Splunk were worth $20,162,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPLK. Private Trust Co. NA purchased a new position in Splunk in the 2nd quarter worth $27,000. Ronald Blue Trust Inc. purchased a new position in shares of Splunk in the second quarter valued at about $29,000. NuWave Investment Management LLC purchased a new position in shares of Splunk in the third quarter valued at about $29,000. Clear Street Markets LLC purchased a new position in shares of Splunk in the third quarter valued at about $30,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of Splunk in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.

Splunk Price Performance

SPLK opened at $103.29 on Tuesday. The company has a 50 day simple moving average of $96.29 and a two-hundred day simple moving average of $88.39. Splunk Inc. has a 1-year low of $65.00 and a 1-year high of $150.79. The firm has a market cap of $16.91 billion, a P/E ratio of -52.70 and a beta of 1.29.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Splunk from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Credit Suisse Group cut their target price on shares of Splunk from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Monday, December 5th. Bank of America lifted their target price on shares of Splunk from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. TheStreet raised shares of Splunk from a “d” rating to a “c-” rating in a research note on Thursday. Finally, Mizuho cut their target price on shares of Splunk from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, March 2nd. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

Splunk Company 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.