Gilder Gagnon Howe & Co. LLC reduced its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 39.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,102 shares of the software company’s stock after selling 54,606 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Splunk were worth $4,785,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SPLK. BlackRock Inc. boosted its stake in Splunk by 5,553.3% in the first quarter. BlackRock Inc. now owns 6,931,967 shares of the software company’s stock valued at $431,791,000 after buying an additional 6,809,349 shares during the period. Wellington Management Group LLP boosted its stake in Splunk by 2,492.5% in the first quarter. Wellington Management Group LLP now owns 1,350,153 shares of the software company’s stock valued at $84,102,000 after buying an additional 1,298,074 shares during the period. Harbour Capital Advisors LLC boosted its stake in Splunk by 6,237.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,061,852 shares of the software company’s stock valued at $18,665,000 after buying an additional 1,045,097 shares during the period. Pictet Asset Management Ltd. boosted its stake in Splunk by 113.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,510,716 shares of the software company’s stock valued at $94,103,000 after buying an additional 804,201 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in 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 valued at $175,258,000 after buying an additional 669,929 shares during the period.
Shares of Splunk Inc. (NASDAQ:SPLK) opened at 58.82 on Thursday. The company’s market capitalization is $8.14 billion. Splunk Inc. has a one year low of $50.64 and a one year high of $69.23. The stock has a 50 day moving average price of $59.11 and a 200-day moving average price of $61.31.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business posted ($0.02) EPS. On average, equities research analysts expect that Splunk Inc. will post $0.52 EPS for the current year.
SPLK has been the subject of several research reports. BTIG Research initiated coverage on Splunk in a research note on Monday, April 17th. They issued a “buy” rating and a $80.00 target price for the company. Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and lifted their target price for the company from $69.00 to $70.00 in a research note on Thursday, June 22nd. Citigroup Inc. lifted their target price on Splunk from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Zacks Investment Research cut Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $71.00 target price on shares of Splunk in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $70.77.
In related news, CFO David F. Conte sold 1,044 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $62.20, for a total value of $64,936.80. Following the transaction, the chief financial officer now owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 4,236 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $61.77, for a total transaction of $261,657.72. Following the completion of the transaction, the director now directly owns 818,456 shares in the company, valued at approximately $50,556,027.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 358,056 shares of company stock valued at $20,784,524. 3.00% of the stock is currently owned by company insiders.
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.
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