Harbour Capital Advisors LLC raised its position in Splunk Inc. (NASDAQ:SPLK) by 6,237.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,061,852 shares of the software company’s stock after buying an additional 1,045,097 shares during the period. Harbour Capital Advisors LLC owned about 0.77% of Splunk worth $18,665,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Splunk by 5,553.3% in the first quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock worth $431,791,000 after buying an additional 6,809,349 shares during the period. Wellington Management Group LLP raised its position in shares of Splunk by 2,492.5% in the first quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock worth $84,102,000 after buying an additional 1,298,074 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Splunk by 113.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,510,716 shares of the software company’s stock worth $94,103,000 after buying an additional 804,201 shares during the period. Bank of New York Mellon Corp raised its position in shares of Splunk by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 2,813,593 shares of the software company’s stock worth $175,258,000 after buying an additional 669,929 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Splunk by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,801,598 shares of the software company’s stock worth $672,831,000 after buying an additional 480,657 shares during the period.
Splunk Inc. (NASDAQ:SPLK) traded up 0.29% on Friday, reaching $59.33. 766,427 shares of the company traded hands. Splunk Inc. has a one year low of $50.64 and a one year high of $69.23. The stock’s 50 day moving average price is $59.34 and its 200 day moving average price is $61.39. The company’s market capitalization is $8.21 billion.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $233.79 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, equities research analysts predict that Splunk Inc. will post $0.52 EPS for the current fiscal year.
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A number of brokerages recently weighed in on SPLK. Guggenheim raised shares of Splunk from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Citigroup Inc. lifted their target price on shares of Splunk from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Robert W. Baird reissued an “outperform” rating and set a $71.00 target price on shares of Splunk in a research note on Monday, July 10th. Finally, Wedbush downgraded shares of Splunk from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $63.00 in a research note on Thursday, June 15th. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.77.
In other news, CFO David F. Conte sold 1,044 shares of Splunk stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total value of $64,936.80. Following the completion of the sale, the chief financial officer now directly owns 207,965 shares in the company, valued at $12,935,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 40,000 shares of Splunk stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $58.13, for a total transaction of $2,325,200.00. Following the completion of the sale, the director now owns 744,540 shares of the company’s stock, valued at $43,280,110.20. The disclosure for this sale can be found here. Insiders sold 558,056 shares of company stock valued at $32,554,124 over the last quarter. Company insiders own 3.00% of the company’s stock.
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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