Envestnet Asset Management Inc. lessened its position in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,502 shares of the software company’s stock after selling 46,457 shares during the period. Envestnet Asset Management Inc.’s holdings in Splunk were worth $16,228,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SPLK. Trifecta Capital Advisors LLC acquired a new position in shares of Splunk in the fourth quarter valued at approximately $25,000. New England Capital Financial Advisors LLC acquired a new position in Splunk during the fourth quarter worth approximately $25,000. Clear Street Markets LLC acquired a new position in Splunk during the third quarter worth approximately $30,000. Pinnacle Financial Partners Inc. acquired a new position in Splunk during the third quarter worth approximately $37,000. Finally, Altshuler Shaham Ltd acquired a new position in Splunk during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 85.71% of the company’s stock.
Splunk Price Performance
Shares of NASDAQ:SPLK opened at $85.80 on Tuesday. Splunk Inc. has a 1-year low of $65.00 and a 1-year high of $116.84. The company’s fifty day moving average is $91.71 and its two-hundred day moving average is $89.77.
Insiders Place Their Bets
In other Splunk news, Director Elisa Steele sold 3,050 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $105.00, for a total transaction of $320,250.00. Following the sale, the director now directly owns 14,481 shares of the company’s stock, valued at $1,520,505. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Elisa Steele sold 3,050 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the sale, the director now owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Morgan sold 2,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the sale, the senior vice president now directly owns 115,907 shares in the company, valued at approximately $11,711,243.28. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages recently commented on SPLK. Mizuho dropped their price target on shares of Splunk from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, March 2nd. BMO Capital Markets boosted their price objective on shares of Splunk from $100.00 to $113.00 and gave the stock an “outperform” rating in a research note on Thursday, March 2nd. William Blair assumed coverage on shares of Splunk in a research note on Wednesday, April 19th. They set an “outperform” rating for the company. Cowen boosted their price objective on shares of Splunk from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 21st. Finally, Guggenheim downgraded shares of Splunk from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 17th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.23.
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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