Russell Investments Group Ltd. raised its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,247 shares of the software company’s stock after buying an additional 8,033 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Splunk worth $21,394,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in shares of Splunk in the second quarter valued at $104,000. Point72 Hong Kong Ltd acquired a new position in shares of Splunk in the second quarter valued at $110,000. Centaurus Financial Inc. acquired a new position in shares of Splunk in the second quarter valued at $124,000. Nvwm LLC acquired a new position in shares of Splunk in the second quarter valued at $160,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Splunk by 152.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock valued at $164,000 after purchasing an additional 996 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.
Shares of SPLK stock opened at $94.94 on Wednesday. The firm has a market cap of $15.29 billion, a PE ratio of -72.47 and a beta of 2.15. Splunk Inc has a 52 week low of $67.01 and a 52 week high of $130.00.
A number of brokerages recently commented on SPLK. ValuEngine upgraded Splunk from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Piper Jaffray Companies upped their target price on Splunk to $135.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Sanford C. Bernstein lowered Splunk from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective (up from $127.00) on shares of Splunk in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $123.63.
In other news, SVP Timothy Tully sold 19,100 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total transaction of $2,396,286.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David F. Conte sold 15,519 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $125.29, for a total value of $1,944,375.51. The disclosure for this sale can be found here. Insiders have sold 69,032 shares of company stock worth $8,640,864 in the last 90 days. Company insiders own 0.36% of the company’s stock.
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Splunk Company Profile
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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