Belpointe Asset Management LLC bought a new position in Splunk Inc. (NASDAQ:SPLK – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 952 shares of the software company’s stock, valued at approximately $82,000.
Several other hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new position in shares of Splunk during the first quarter valued at approximately $1,527,000. Raymond James Trust N.A. raised its stake in Splunk by 34.4% in the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock worth $737,000 after buying an additional 1,268 shares in the last quarter. Prudential PLC purchased a new stake in shares of Splunk during the 1st quarter worth $357,000. National Pension Service lifted its position in shares of Splunk by 8.1% during the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after buying an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Splunk during the first quarter valued at approximately $89,000. 85.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on SPLK shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Splunk in a research note on Tuesday, February 28th. Mizuho reduced 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. Needham & Company LLC upped their price objective on shares of Splunk from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Citigroup increased their price objective on shares of Splunk from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. Finally, BTIG Research boosted their target price on shares of Splunk from $105.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.23.
Splunk Price Performance
Splunk (NASDAQ:SPLK – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The software company reported $1.25 EPS for the quarter, beating the consensus estimate of ($0.16) by $1.41. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Equities research analysts anticipate that Splunk Inc. will post -0.55 earnings per share for the current year.
Insider Buying and Selling at Splunk
In other news, SVP Scott Morgan sold 2,000 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the sale, the senior vice president now directly owns 115,907 shares in the company, valued at $11,711,243.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Splunk news, SVP Scott Morgan sold 2,000 shares of the company’s 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 sale, the senior vice president now owns 115,907 shares in the company, valued at approximately $11,711,243.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elisa Steele sold 3,050 shares of Splunk 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 completion of the transaction, the director now owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
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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