Splunk Inc. (SPLK) Position Cut by Paloma Partners Management Co

Paloma Partners Management Co reduced its stake in Splunk Inc. (NASDAQ:SPLK) by 30.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,087 shares of the software company’s stock after selling 26,586 shares during the period. Paloma Partners Management Co’s holdings in Splunk were worth $3,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of Splunk by 28.0% in the first quarter. Nationwide Fund Advisors now owns 159,900 shares of the software company’s stock valued at $9,960,000 after buying an additional 34,950 shares during the last quarter. Comerica Bank purchased a new position in shares of Splunk during the fourth quarter valued at $354,000. Gofen & Glossberg LLC IL raised its position in shares of Splunk by 0.6% in the first quarter. Gofen & Glossberg LLC IL now owns 32,259 shares of the software company’s stock valued at $2,009,000 after buying an additional 200 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Splunk during the first quarter valued at $212,000. Finally, AQR Capital Management LLC raised its position in shares of Splunk by 41.8% in the fourth quarter. AQR Capital Management LLC now owns 86,556 shares of the software company’s stock valued at $4,427,000 after buying an additional 25,510 shares during the last quarter.

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

Shares of Splunk Inc. (NASDAQ SPLK) traded down 1.49% during trading on Tuesday, hitting $56.92. The stock had a trading volume of 1,371,189 shares. The stock’s 50-day moving average is $63.63 and its 200-day moving average is $60.31. Splunk Inc. has a 12-month low of $50.60 and a 12-month high of $69.23. The stock’s market capitalization is $7.88 billion.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $242.40 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted ($0.02) earnings per share. Analysts predict that Splunk Inc. will post $0.52 EPS for the current fiscal year.

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Several research analysts have weighed in on SPLK shares. Royal Bank Of Canada upped their target price on Splunk from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 23rd. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price on shares of Splunk in a research report on Wednesday, February 22nd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Splunk in a research report on Monday, February 27th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Splunk in a research report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $71.41.

In other Splunk news, CFO David F. Conte sold 1,044 shares of the business’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 transaction of $64,936.80. Following the completion of the transaction, the chief financial officer now directly owns 207,965 shares in the company, valued at $12,935,423. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas Merritt sold 14,867 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $61.83, for a total transaction of $919,226.61. Following the transaction, the insider now owns 252,620 shares of the company’s stock, valued at $15,619,494.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,748 shares of company stock valued at $18,031,006. 3.00% of the stock is currently 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.

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