Natixis Advisors L.P. raised its holdings in Splunk Inc. (NASDAQ:SPLK – Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,643 shares of the software company’s stock after buying an additional 22,260 shares during the quarter. Natixis Advisors L.P. owned approximately 0.09% of Splunk worth $13,581,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Key Financial Inc raised its stake in Splunk by 1,153.8% during the first quarter. Key Financial Inc now owns 326 shares of the software company’s stock worth $31,000 after purchasing an additional 300 shares during the period. Allworth Financial LP grew its position in Splunk by 54.1% during the first quarter. Allworth Financial LP now owns 353 shares of the software company’s stock valued at $34,000 after acquiring an additional 124 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in Splunk during the fourth quarter worth about $45,000. Sandy Spring Bank lifted its stake in shares of Splunk by 24.7% in the 4th quarter. Sandy Spring Bank now owns 545 shares of the software company’s stock valued at $47,000 after purchasing an additional 108 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in shares of Splunk by 33.4% in the 1st quarter. HM Payson & Co. now owns 595 shares of the software company’s stock valued at $57,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.
Insider Activity
In related news, Director Elisa Steele sold 288 shares of Splunk 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 of the company’s stock, valued at $1,792,710.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Elisa Steele sold 288 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $105.64, for a total transaction of $30,424.32. Following the completion of the transaction, the director now owns 16,970 shares in the company, valued at approximately $1,792,710.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christian Smith sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $105.64, for a total transaction of $158,460.00. Following the completion of the sale, the senior vice president now owns 109,453 shares in the company, valued at $11,562,614.92. The disclosure for this sale can be found here. Insiders sold a total of 16,384 shares of company stock worth $1,712,330 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
SPLK has been the topic of several research reports. Truist Financial restated a “buy” rating and issued a $130.00 price target on shares of Splunk in a report on Friday, July 14th. Oppenheimer restated an “outperform” rating and set a $115.00 target price on shares of Splunk in a report on Thursday. Capital One Financial assumed coverage on Splunk in a research note on Wednesday, August 9th. They issued an “overweight” rating and a $125.00 target price for the company. Needham & Company LLC boosted their price target on Splunk from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Splunk from $125.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.
Splunk Trading Up 2.8 %
Shares of NASDAQ:SPLK opened at $115.94 on Monday. The company has a 50 day moving average of $103.94 and a 200-day moving average of $98.43. The firm has a market cap of $19.44 billion, a P/E ratio of -351.33 and a beta of 1.28. Splunk Inc. has a twelve month low of $65.00 and a twelve month high of $116.18.
Splunk (NASDAQ:SPLK – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The software company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.46 by $0.25. The firm had revenue of $910.59 million for the quarter, compared to analysts’ expectations of $889.29 million. Splunk had a negative return on equity of 22.78% and a negative net margin of 0.61%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.94) earnings per share. Equities research analysts forecast that Splunk Inc. will post -0.17 EPS for the current year.
Splunk Company 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.