Westpac Banking Corp increased its position in shares of Splunk Inc (NASDAQ:SPLK) by 27.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 136,083 shares of the software company’s stock after acquiring an additional 29,100 shares during the quarter. Westpac Banking Corp’s holdings in Splunk were worth $16,454,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FIL Ltd lifted its holdings in shares of Splunk by 182.3% in the third quarter. FIL Ltd now owns 1,565,684 shares of the software company’s stock worth $189,307,000 after acquiring an additional 1,011,095 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Splunk by 1,838.0% in the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock worth $48,154,000 after acquiring an additional 460,796 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Splunk by 46.6% in the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock worth $97,576,000 after acquiring an additional 312,893 shares during the last quarter. FMR LLC lifted its holdings in shares of Splunk by 36.4% in the third quarter. FMR LLC now owns 1,159,890 shares of the software company’s stock worth $140,242,000 after acquiring an additional 309,395 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new position in shares of Splunk in the second quarter worth about $29,605,000. 87.82% of the stock is owned by institutional investors and hedge funds.
SPLK has been the subject of a number of research reports. ValuEngine raised shares of Splunk from a “buy” rating to a “strong-buy” rating in a report on Friday, November 2nd. JPMorgan Chase & Co. increased their target price on shares of Splunk from $108.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Bank of America increased their target price on shares of Splunk from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Splunk in a research note on Sunday, August 26th. Finally, Credit Suisse Group upped their price objective on Splunk from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Splunk currently has an average rating of “Buy” and an average price target of $126.69.
In other Splunk news, Director Mark T. Carges sold 2,091 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $124.87, for a total transaction of $261,103.17. Following the transaction, the director now directly owns 19,444 shares in the company, valued at approximately $2,427,972.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy Tully sold 19,100 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total value of $2,396,286.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,032 shares of company stock worth $8,640,864 over the last 90 days. Company insiders own 0.36% of the company’s stock.
NASDAQ:SPLK opened at $92.57 on Monday. The company has a market cap of $13.42 billion, a price-to-earnings ratio of -70.66 and a beta of 2.15. Splunk Inc has a fifty-two week low of $76.89 and a fifty-two week high of $130.00.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $388.30 million during the quarter, compared to the consensus estimate of $358.46 million. Splunk had a negative net margin of 20.55% and a negative return on equity of 26.44%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. Equities research analysts forecast that Splunk Inc will post -1.15 earnings per share for the current fiscal year.
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Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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