Advisory Services Network LLC Has $590,000 Stake in Splunk Inc (NASDAQ:SPLK)
Advisory Services Network LLC increased its position in shares of Splunk Inc (NASDAQ:SPLK) by 9,264.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,117 shares of the software company’s stock after buying an additional 7,041 shares during the quarter. Advisory Services Network LLC’s holdings in Splunk were worth $590,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SPLK. SeaCrest Wealth Management LLC bought a new position in shares of Splunk in the fourth quarter valued at approximately $102,000. Creative Planning bought a new position in shares of Splunk in the fourth quarter valued at approximately $210,000. Essex Investment Management Co. LLC bought a new position in Splunk in the 4th quarter worth approximately $214,000. Crossmark Global Holdings Inc. bought a new position in Splunk in the 3rd quarter worth approximately $201,000. Finally, FDx Advisors Inc. bought a new position in Splunk in the 3rd quarter worth approximately $210,000.
Several research analysts recently weighed in on SPLK shares. Piper Jaffray Companies restated a “buy” rating and issued a $80.00 price objective on shares of Splunk in a research report on Wednesday, November 15th. Drexel Hamilton reaffirmed a “buy” rating and set a $93.00 target price on shares of Splunk in a report on Thursday, November 16th. Jefferies Group reissued a “buy” rating and issued a $88.00 price target on shares of Splunk in a report on Friday, November 17th. Wells Fargo & Co reissued a “buy” rating and issued a $95.00 price target on shares of Splunk in a report on Friday, November 17th. Finally, Mizuho raised shares of Splunk from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $90.00 in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $98.26.
Splunk (NASDAQ:SPLK) last announced its earnings results on Thursday, March 1st. The software company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The firm had revenue of $419.70 million for the quarter, compared to analyst estimates of $390.79 million. Splunk had a negative net margin of 20.39% and a negative return on equity of 31.82%. The business’s revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. equities research analysts forecast that Splunk Inc will post -1.21 earnings per share for the current year.
In related news, CFO David F. Conte sold 12,969 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $107.62, for a total transaction of $1,395,723.78. Following the sale, the chief financial officer now owns 106,582 shares in the company, valued at approximately $11,470,354.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Leonard R. Stein sold 10,047 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $107.89, for a total transaction of $1,083,970.83. Following the completion of the transaction, the senior vice president now directly owns 78,606 shares of the company’s stock, valued at approximately $8,480,801.34. The disclosure for this sale can be found here. Insiders have sold a total of 67,272 shares of company stock worth $7,016,671 in the last quarter. 1.43% of the stock is currently owned by company insiders.
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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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