CG Asset Management LLC purchased a new stake in Splunk Inc. (NASDAQ:SPLK) during the second quarter, Holdings Channel reports. The firm purchased 39,325 shares of the software company’s stock, valued at approximately $2,131,000.
A number of other large investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after buying an additional 123 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Splunk during the first quarter valued at approximately $284,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Splunk during the second quarter valued at approximately $303,000. Capital One National Association raised its stake in shares of Splunk by 34.8% in the second quarter. Capital One National Association now owns 6,958 shares of the software company’s stock valued at $377,000 after buying an additional 1,797 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in shares of Splunk by 273.1% in the first quarter. BlueMountain Capital Management LLC now owns 8,351 shares of the software company’s stock valued at $409,000 after buying an additional 6,113 shares during the last quarter. 98.34% of the stock is owned by institutional investors.
Shares of Splunk Inc. (NASDAQ:SPLK) traded up 4.26% during midday trading on Monday, hitting $61.18. The company had a trading volume of 2,263,392 shares. The company’s market cap is $8.23 billion. The stock’s 50-day moving average price is $60.55 and its 200-day moving average price is $55.61. Splunk Inc. has a 12 month low of $29.85 and a 12 month high of $66.90.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $200.52 million. During the same period in the previous year, the business earned $0.03 EPS. Splunk’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, equities research analysts forecast that Splunk Inc. will post $0.29 EPS for the current year.
SPLK has been the subject of several recent analyst reports. Drexel Hamilton reissued a “buy” rating and issued a $85.00 price target on shares of Splunk in a report on Wednesday, July 13th. Stifel Nicolaus boosted their price target on shares of Splunk from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. RBC Capital Markets reissued a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of Splunk in a report on Friday, August 19th. Maxim Group lifted their target price on shares of Splunk from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Finally, DA Davidson reaffirmed a “buy” rating and set a $83.00 target price on shares of Splunk in a research note on Wednesday, August 24th. Eleven investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.61.
In other Splunk news, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the sale, the director now directly owns 440,426 shares in the company, valued at approximately $25,954,304.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leonard R. Stein sold 7,000 shares of Splunk stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $59.00, for a total value of $413,000.00. Following the sale, the senior vice president now owns 124,699 shares in the company, valued at $7,357,241. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.
Want to see what other hedge funds are holding SPLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Splunk Inc. (NASDAQ:SPLK).
Receive News & Ratings for Splunk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.