First Citizens Bank & Trust Co. decreased its holdings in Splunk Inc (NASDAQ:SPLK) by 40.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,138 shares of the software company’s stock after selling 5,454 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Splunk were worth $984,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Splunk in the 2nd quarter worth about $104,000. Point72 Hong Kong Ltd acquired a new position in shares of Splunk during the second quarter valued at approximately $110,000. Centaurus Financial Inc. acquired a new position in shares of Splunk during the second quarter valued at approximately $124,000. Nvwm LLC acquired a new position in shares of Splunk during the second quarter valued at approximately $160,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Splunk by 152.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock valued at $164,000 after acquiring an additional 996 shares during the last quarter. 90.23% of the stock is owned by institutional investors.
A number of equities analysts have commented on the company. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Splunk in a report on Wednesday, October 3rd. Wells Fargo & Co increased their target price on Splunk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BidaskClub raised Splunk from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Stifel Nicolaus increased their target price on Splunk from $120.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 24th. Finally, Piper Jaffray Companies increased their target price on Splunk to $135.00 and gave the company an “overweight” rating in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $124.03.
NASDAQ:SPLK opened at $94.80 on Friday. Splunk Inc has a one year low of $63.71 and a one year high of $130.00. The company has a market capitalization of $15.35 billion, a P/E ratio of -72.37 and a beta of 2.07.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. Research analysts forecast that Splunk Inc will post -1.15 EPS for the current year.
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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