TIAA CREF Investment Management LLC Sells 11,403 Shares of Splunk Inc. (SPLK)

TIAA CREF Investment Management LLC lowered its position in Splunk Inc. (NASDAQ:SPLK) by 3.3% during the first quarter, Holdings Channel reports. The fund owned 336,455 shares of the software company’s stock after selling 11,403 shares during the period. TIAA CREF Investment Management LLC’s holdings in Splunk were worth $20,958,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SPLK. Ameriprise Financial Inc. raised its position in shares of Splunk by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 6,981,244 shares of the software company’s stock worth $434,861,000 after buying an additional 47,585 shares during the last quarter. American Century Companies Inc. raised its position in shares of Splunk by 0.4% in the first quarter. American Century Companies Inc. now owns 2,974,159 shares of the software company’s stock worth $185,260,000 after buying an additional 12,478 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Splunk by 31.3% in the first quarter. Bank of New York Mellon Corp now owns 2,813,593 shares of the software company’s stock worth $175,258,000 after buying an additional 669,929 shares during the last quarter. State Street Corp raised its position in shares of Splunk by 2.4% in the fourth quarter. State Street Corp now owns 2,687,680 shares of the software company’s stock worth $137,479,000 after buying an additional 62,359 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Splunk by 2.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,858,320 shares of the software company’s stock worth $115,754,000 after buying an additional 50,887 shares during the last quarter.

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

Shares of Splunk Inc. (SPLK) traded down 1.11% during trading on Tuesday, hitting $57.14. The company had a trading volume of 325,279 shares. The stock’s market capitalization is $7.91 billion. The firm’s 50 day moving average is $63.63 and its 200-day moving average is $60.31. Splunk Inc. has a 52 week low of $50.60 and a 52 week high of $69.23.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The company had revenue of $242.40 million during the quarter, compared to analyst estimates of $233.79 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The firm’s revenue was up 30.4% on a year-over-year basis. Equities research analysts anticipate that Splunk Inc. will post $0.52 EPS for the current fiscal year.

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A number of research firms recently commented on SPLK. Mitsubishi UFJ Financial Group set a $71.00 price target on Splunk and gave the company a “buy” rating in a research report on Saturday, February 25th. Robert W. Baird reissued an “outperform” rating and issued a $71.00 price target (up from $68.00) on shares of Splunk in a research report on Saturday, February 25th. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 price target on shares of Splunk in a research report on Sunday, May 28th. MKM Partners reissued a “neutral” rating and issued a $63.00 price target (up from $60.00) on shares of Splunk in a research report on Tuesday, May 30th. Finally, BTIG Research began coverage on Splunk in a research report on Monday, April 17th. They issued a “buy” rating and a $80.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $71.41.

In other Splunk news, Director John G. Connors sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $62.87, for a total transaction of $3,143,500.00. Following the sale, the director now directly owns 106,470 shares in the company, valued at $6,693,768.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David F. Conte sold 1,044 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total value of $64,936.80. Following the sale, the chief financial officer now owns 207,965 shares in the company, valued at $12,935,423. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,748 shares of company stock valued at $18,031,006. 3.00% of the stock is owned by corporate insiders.

About Splunk

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.

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).

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