Glynn Capital Management LLC cut its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,834 shares of the software company’s stock after selling 801 shares during the quarter. Splunk accounts for 4.8% of Glynn Capital Management LLC’s holdings, making the stock its 8th largest position. Glynn Capital Management LLC owned 0.14% of Splunk worth $24,041,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Splunk during the second quarter worth approximately $104,000. Point72 Hong Kong Ltd bought a new position in shares of Splunk during the second quarter worth approximately $110,000. Centaurus Financial Inc. bought a new position in shares of Splunk during the second quarter worth approximately $124,000. Nvwm LLC bought a new position in shares of Splunk during the second quarter worth approximately $160,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Splunk by 152.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after purchasing an additional 996 shares during the period. 89.97% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Credit Suisse Group lifted their price objective on shares of Splunk from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Rosenblatt Securities reissued a “buy” rating and issued a $135.00 price objective on shares of Splunk in a research note on Sunday, August 26th. Piper Jaffray Companies lifted their price objective on shares of Splunk to $135.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Finally, Barclays lifted their price objective on shares of Splunk from $127.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirty have issued a buy rating to the company’s stock. Splunk has an average rating of “Buy” and an average target price of $124.03.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $388.30 million for the quarter, compared to analysts’ expectations 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 was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts expect that Splunk Inc will post -1.15 EPS for the current year.
In other news, insider Douglas Merritt sold 23,572 shares of Splunk stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $124.58, for a total transaction of $2,936,599.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of Splunk stock in a transaction 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 owns 19,444 shares in the company, valued at approximately $2,427,972.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,032 shares of company stock worth $8,640,864. Insiders own 0.36% of the company’s stock.
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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