Sumitomo Mitsui Asset Management Company LTD cut its stake in Splunk Inc. (NASDAQ:SPLK) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,818,281 shares of the software company’s stock after selling 295,140 shares during the quarter. Splunk accounts for about 1.9% of Sumitomo Mitsui Asset Management Company LTD’s portfolio, making the stock its 7th biggest position. Sumitomo Mitsui Asset Management Company LTD owned approximately 1.30% of Splunk worth $120,788,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of Splunk by 14.1% during the first quarter. Teachers Advisors LLC now owns 281,900 shares of the software company’s stock valued at $17,560,000 after acquiring an additional 34,884 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Splunk by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 127,208 shares of the software company’s stock valued at $7,924,000 after acquiring an additional 349 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Splunk during the first quarter valued at approximately $12,346,000. Schwab Charles Investment Management Inc. increased its position in shares of Splunk by 9.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 361,318 shares of the software company’s stock valued at $22,507,000 after acquiring an additional 31,450 shares during the last quarter. Finally, State Street Corp increased its position in shares of Splunk by 2.5% during the first quarter. State Street Corp now owns 2,754,762 shares of the software company’s stock valued at $171,593,000 after acquiring an additional 67,082 shares during the last quarter.
Several equities analysts have weighed in on SPLK shares. Royal Bank Of Canada reissued a “buy” rating and set a $76.00 price objective on shares of Splunk in a report on Tuesday, November 7th. Maxim Group reissued a “buy” rating and set a $79.00 price objective on shares of Splunk in a report on Friday, October 27th. KeyCorp reissued a “buy” rating on shares of Splunk in a report on Friday, October 27th. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Needham & Company LLC began coverage on Splunk in a research note on Monday, October 23rd. They set a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $74.00.
In related news, Director Godfrey Sullivan sold 128,750 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $8,734,400.00. Following the completion of the transaction, the director now owns 699,540 shares of the company’s stock, valued at $47,456,793.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David F. Conte sold 10,525 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $66.03, for a total transaction of $694,965.75. The disclosure for this sale can be found here. Insiders have sold 439,197 shares of company stock valued at $29,269,525 over the last quarter. Insiders own 1.43% of the company’s stock.
Shares of Splunk Inc. (NASDAQ:SPLK) opened at $68.35 on Wednesday. Splunk Inc. has a one year low of $50.64 and a one year high of $71.46.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, August 24th. The software company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Splunk had a negative net margin of 36.81% and a negative return on equity of 75.81%. The business had revenue of $279.96 million during the quarter, compared to the consensus estimate of $268.72 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. analysts expect that Splunk Inc. will post -1.47 earnings per share for the current fiscal year.
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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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