Reliance Trust Co. of Delaware Has $900,000 Position in Splunk Inc (SPLK)

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Reliance Trust Co. of Delaware reduced its position in shares of Splunk Inc (NASDAQ:SPLK) by 9.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,220 shares of the software company’s stock after selling 752 shares during the period. Reliance Trust Co. of Delaware’s holdings in Splunk were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SPLK. Berman Capital Advisors LLC bought a new position in Splunk during the 4th quarter valued at about $29,000. Bessemer Group Inc. lifted its holdings in Splunk by 192.2% during the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock valued at $32,000 after purchasing an additional 198 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Splunk by 244.4% during the 4th quarter. Captrust Financial Advisors now owns 427 shares of the software company’s stock valued at $45,000 after purchasing an additional 303 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Splunk during the 4th quarter valued at about $56,000. Finally, Financial Advocates Investment Management lifted its holdings in Splunk by 461.0% during the 4th quarter. Financial Advocates Investment Management now owns 864 shares of the software company’s stock valued at $61,000 after purchasing an additional 710 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on SPLK. BidaskClub downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. BMO Capital Markets boosted their target price on shares of Splunk from $132.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. They noted that the move was a valuation call. Piper Jaffray Companies boosted their target price on shares of Splunk to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 27th. Wells Fargo & Co boosted their target price on shares of Splunk from $145.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, Deutsche Bank boosted their target price on shares of Splunk to $160.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $143.84.

In other news, CFO David F. Conte sold 4,991 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $128.03, for a total value of $638,997.73. Following the completion of the transaction, the chief financial officer now owns 123,965 shares in the company, valued at $15,871,238.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Scott Morgan sold 1,366 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $124.49, for a total transaction of $170,053.34. Following the completion of the transaction, the general counsel now owns 46,807 shares of the company’s stock, valued at approximately $5,827,003.43. The disclosure for this sale can be found here. Insiders sold 124,271 shares of company stock valued at $15,613,440 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

Shares of NASDAQ SPLK opened at $137.70 on Friday. The company has a market cap of $20.67 billion, a P/E ratio of -86.60 and a beta of 2.03. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 1.07. Splunk Inc has a 52-week low of $83.69 and a 52-week high of $143.70.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Thursday, February 28th. The software company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). The firm had revenue of $622.09 million for the quarter, compared to analyst estimates of $562.22 million. Splunk had a negative net margin of 15.28% and a negative return on equity of 14.59%. As a group, equities research analysts predict that Splunk Inc will post -1.08 earnings per share for the current year.

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About Splunk

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 investigate, monitor, analyze, and act on 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; Splunk Cloud; and Splunk Light, which offers log search and analysis for small IT environments.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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