Splunk Inc. (NASDAQ:SPLK) Shares Bought by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. lifted its position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) by 15.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,307 shares of the software company’s stock after buying an additional 15,335 shares during the period. Industrial Alliance Investment Management Inc. owned approximately 0.07% of Splunk worth $8,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA purchased a new stake in Splunk in the second quarter valued at $27,000. Ronald Blue Trust Inc. purchased a new stake in Splunk in the 2nd quarter valued at about $29,000. NuWave Investment Management LLC acquired a new position in Splunk in the third quarter valued at about $29,000. Clear Street Markets LLC acquired a new stake in shares of Splunk during the third quarter valued at about $30,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Splunk during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Elisa Steele sold 3,050 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the sale, the director now directly owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Splunk news, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the sale, the director now owns 14,481 shares in the company, valued at $1,520,505. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Scott Morgan sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the transaction, the senior vice president now owns 115,907 shares in the company, valued at $11,711,243.28. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered their price objective on shares of Splunk from $140.00 to $115.00 in a research report on Thursday, December 1st. Wedbush assumed coverage on Splunk in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $86.00 price objective for the company. Canaccord Genuity Group decreased their target price on Splunk from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 1st. BMO Capital Markets lifted their target price on Splunk from $100.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Finally, StockNews.com began coverage on shares of Splunk in a research report on Thursday. They set a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.23.

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $87.86 on Thursday. Splunk Inc. has a 12 month low of $65.00 and a 12 month high of $150.79. The firm has a market capitalization of $14.38 billion, a P/E ratio of -44.83 and a beta of 1.29. The company’s fifty day moving average price is $97.31 and its 200 day moving average price is $87.97.

Splunk Profile

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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.