IMA Wealth Inc. trimmed its stake in Splunk Inc. (NASDAQ:SPLK – Get Rating) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,147 shares of the software company’s stock after selling 5,755 shares during the period. IMA Wealth Inc.’s holdings in Splunk were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Splunk by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,476,529 shares of the software company’s stock valued at $1,163,836,000 after buying an additional 173,486 shares during the period. Primecap Management Co. CA boosted its position in Splunk by 6.6% in the 3rd quarter. Primecap Management Co. CA now owns 8,913,780 shares of the software company’s stock valued at $670,316,000 after buying an additional 548,230 shares during the period. Clearbridge Investments LLC boosted its position in Splunk by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after buying an additional 628,288 shares during the period. First Trust Advisors LP boosted its position in Splunk by 7.8% in the 3rd quarter. First Trust Advisors LP now owns 3,257,906 shares of the software company’s stock valued at $244,994,000 after buying an additional 236,007 shares during the period. Finally, Legal & General Group Plc boosted its position in Splunk by 8.0% in the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock valued at $198,246,000 after buying an additional 170,233 shares during the period. 85.71% of the stock is owned by hedge funds and other institutional investors.
Splunk Stock Performance
Shares of NASDAQ SPLK opened at $104.16 on Thursday. The company’s fifty day moving average price is $92.94 and its 200 day moving average price is $92.94. Splunk Inc. has a 1 year low of $65.00 and a 1 year high of $116.84. The company has a market capitalization of $17.25 billion, a PE ratio of -83.33 and a beta of 1.28.
Splunk (NASDAQ:SPLK – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The software company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.12. The firm had revenue of $751.51 million for the quarter, compared to analysts’ expectations of $719.02 million. On average, equities analysts expect that Splunk Inc. will post -0.27 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Splunk in a research report on Tuesday, February 28th. Wells Fargo & Company boosted their price target on shares of Splunk from $115.00 to $125.00 in a report on Thursday, May 25th. Stifel Nicolaus boosted their price target on shares of Splunk from $97.00 to $105.00 in a report on Thursday, May 25th. Barclays boosted their price target on shares of Splunk from $122.00 to $130.00 in a report on Thursday, May 25th. Finally, Bank of America boosted their price target on shares of Splunk from $125.00 to $130.00 in a report on Thursday, May 25th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.19.
Splunk Profile
Splunk, Inc engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries.