Jag Capital Management LLC Grows Stake in Splunk Inc (SPLK)

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Jag Capital Management LLC lifted its position in Splunk Inc (NASDAQ:SPLK) by 42.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,949 shares of the software company’s stock after buying an additional 40,956 shares during the period. Splunk makes up about 2.8% of Jag Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Jag Capital Management LLC’s holdings in Splunk were worth $17,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Splunk by 7.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,122,059 shares of the software company’s stock worth $377,486,000 after purchasing an additional 219,247 shares during the period. Prudential Financial Inc. raised its holdings in Splunk by 19.7% in the 3rd quarter. Prudential Financial Inc. now owns 9,120 shares of the software company’s stock worth $1,103,000 after purchasing an additional 1,500 shares during the period. Dimensional Fund Advisors LP raised its holdings in Splunk by 13.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 157,838 shares of the software company’s stock worth $19,079,000 after purchasing an additional 19,178 shares during the period. Baird Financial Group Inc. raised its holdings in Splunk by 28.1% in the 3rd quarter. Baird Financial Group Inc. now owns 3,323 shares of the software company’s stock worth $391,000 after purchasing an additional 729 shares during the period. Finally, LPL Financial LLC raised its holdings in Splunk by 5.9% in the 3rd quarter. LPL Financial LLC now owns 51,737 shares of the software company’s stock worth $6,256,000 after purchasing an additional 2,885 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

A number of brokerages recently commented on SPLK. BidaskClub cut Splunk from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Morgan Stanley raised their price target on Splunk from $121.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, March 19th. Mizuho assumed coverage on Splunk in a report on Wednesday, March 13th. They set a “buy” rating and a $150.00 price target on the stock. Argus raised their price target on Splunk to $156.00 and gave the company a “buy” rating in a report on Friday, March 8th. Finally, Zacks Investment Research cut Splunk from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Splunk currently has an average rating of “Buy” and an average target price of $142.56.

In other news, insider Ledger Susan St. sold 1,761 shares of Splunk stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $119.97, for a total value of $211,267.17. Following the sale, the insider now directly owns 215,798 shares of the company’s stock, valued at $25,889,286.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David F. Conte sold 7,820 shares of Splunk stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.05, for a total value of $1,001,351.00. Following the completion of the sale, the chief financial officer now directly owns 116,056 shares in the company, valued at $14,860,970.80. The disclosure for this sale can be found here. Insiders sold 126,032 shares of company stock worth $15,824,708 over the last ninety days. Insiders own 0.36% of the company’s stock.

Shares of SPLK stock traded down $0.26 during trading hours on Monday, hitting $134.68. The stock had a trading volume of 936,506 shares, compared to its average volume of 1,704,941. Splunk Inc has a one year low of $83.69 and a one year high of $143.70. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of -84.70 and a beta of 2.03.

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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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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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