Principal Financial Group Inc. cut its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,124 shares of the software company’s stock after selling 867 shares during the period. Principal Financial Group Inc.’s holdings in Splunk were worth $1,254,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in 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 bought a new stake in Splunk during the fourth quarter valued at about $354,000. Gofen & Glossberg LLC IL raised its stake in 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 bought a new stake in Splunk during the first quarter valued at about $212,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Splunk by 46.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,368 shares of the software company’s stock valued at $1,456,000 after buying an additional 7,448 shares during the last quarter.
Shares of Splunk Inc. (NASDAQ SPLK) opened at 61.30 on Tuesday. The firm’s market cap is $8.48 billion. The stock has a 50 day moving average price of $58.87 and a 200-day moving average price of $61.00. Splunk Inc. has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $242.40 million for the quarter, compared to analyst estimates of $233.79 million. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. Splunk’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts anticipate that Splunk Inc. will post $0.52 EPS for the current fiscal year.
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SPLK has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Splunk from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. Robert W. Baird set a $71.00 price target on Splunk and gave the stock a “buy” rating in a report on Saturday, May 27th. Maxim Group reiterated a “buy” rating on shares of Splunk in a report on Sunday, May 28th. Citigroup Inc. increased their price target on Splunk from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Finally, Susquehanna Bancshares Inc initiated coverage on Splunk in a report on Wednesday, June 7th. They issued a “neutral” rating and a $68.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Splunk currently has an average rating of “Buy” and a consensus price target of $70.83.
In related news, Director Godfrey Sullivan sold 48,750 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $56.94, for a total value of $2,775,825.00. Following the transaction, the director now owns 843,290 shares of the company’s stock, valued at $48,016,932.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David F. Conte sold 1,044 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 207,965 shares in the company, valued at approximately $12,935,423. The disclosure for this sale can be found here. Insiders sold 358,056 shares of company stock worth $20,784,524 in the last three months. 3.00% of the stock is currently owned by corporate insiders.
Splunk Company Profile
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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