Forsta AP Fonden lifted its holdings in shares of Splunk Inc. (NASDAQ:SPLK – Free Report) by 141.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,800 shares of the software company’s stock after buying an additional 60,200 shares during the period. Forsta AP Fonden owned approximately 0.06% of Splunk worth $9,856,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Splunk by 1.1% in the third quarter. Vanguard Group Inc. now owns 15,476,529 shares of the software company’s stock valued at $1,163,836,000 after acquiring an additional 173,486 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after purchasing an additional 628,288 shares during the period. Legal & General Group Plc raised its stake in shares of Splunk by 8.0% in the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock worth $198,246,000 after buying an additional 170,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Splunk by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,127,413 shares of the software company’s stock valued at $182,925,000 after buying an additional 80,359 shares during the period. Finally, Starboard Value LP bought a new position in Splunk during the fourth quarter valued at about $160,720,000. 86.58% of the stock is owned by institutional investors.
Splunk Stock Up 0.7 %
SPLK opened at $106.27 on Thursday. The stock’s 50 day moving average price is $97.20 and its two-hundred day moving average price is $94.96. The firm has a market capitalization of $17.60 billion, a P/E ratio of -85.02 and a beta of 1.28. Splunk Inc. has a 12-month low of $65.00 and a 12-month high of $116.84.
Splunk (NASDAQ:SPLK – Free Report) last announced its quarterly earnings data on Wednesday, May 24th. The software company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.12. The company had revenue of $751.51 million during the quarter, compared to analyst estimates of $719.02 million. As a group, analysts anticipate that Splunk Inc. will post -0.17 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on SPLK shares. Mizuho upped their price target on shares of Splunk from $110.00 to $115.00 in a report on Thursday, May 25th. StockNews.com upgraded shares of Splunk from a “hold” rating to a “buy” rating in a report on Friday, May 26th. KeyCorp lifted their price target on shares of Splunk from $130.00 to $135.00 in a research report on Thursday, May 25th. TheStreet downgraded Splunk from a “c-” rating to a “d” rating in a research report on Thursday, May 25th. Finally, BMO Capital Markets lifted their price target on Splunk from $113.00 to $117.00 in a research note on Thursday, May 25th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.19.
Insider Activity at Splunk
In related news, Director Elisa Steele sold 288 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $30,424.32. Following the transaction, the director now directly owns 16,970 shares in the company, valued at $1,792,710.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Splunk news, Director Elisa Steele sold 288 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.64, for a total value of $30,424.32. Following the sale, the director now owns 16,970 shares of the company’s stock, valued at approximately $1,792,710.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Smith sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $158,460.00. Following the transaction, the senior vice president now directly owns 109,453 shares of the company’s stock, valued at $11,562,614.92. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Splunk Profile
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization’s digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.