Splunk Inc (SPLK) Holdings Reduced by CIBC Asset Management Inc
CIBC Asset Management Inc trimmed its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,568 shares of the software company’s stock after selling 6,551 shares during the period. CIBC Asset Management Inc’s holdings in Splunk were worth $4,183,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc boosted its stake in Splunk by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 12,476,788 shares of the software company’s stock valued at $1,508,569,000 after purchasing an additional 37,885 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Splunk by 7.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,122,059 shares of the software company’s stock valued at $377,486,000 after purchasing an additional 219,247 shares during the last quarter. Norges Bank purchased a new stake in Splunk during the 4th quarter valued at $210,940,000. Geode Capital Management LLC boosted its stake in Splunk by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,338,165 shares of the software company’s stock valued at $140,208,000 after purchasing an additional 42,563 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Splunk by 37.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,278,350 shares of the software company’s stock valued at $134,036,000 after purchasing an additional 349,380 shares during the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.
Several analysts have commented on SPLK shares. BidaskClub downgraded Splunk from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Morgan Stanley set a $121.00 target price on Splunk and gave the company a “hold” rating in a research note on Friday, March 1st. Citigroup increased their target price on Splunk from $98.00 to $112.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Argus increased their target price on Splunk to $156.00 and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $200.00 target price (up from $170.00) on shares of Splunk in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $143.84.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, February 28th. The software company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The company had revenue of $622.09 million for the quarter, compared to analysts’ expectations of $562.22 million. Splunk had a negative net margin of 15.28% and a negative return on equity of 14.59%. On average, equities research analysts anticipate that Splunk Inc will post -1.08 EPS for the current year.
In related news, Director Patricia Morrison sold 5,000 shares of Splunk stock in a transaction on Monday, March 4th. The stock was sold at an average price of $134.44, for a total transaction of $672,200.00. Following the transaction, the director now directly owns 26,359 shares in the company, valued at $3,543,703.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David F. Conte sold 7,820 shares of Splunk stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.05, for a total value of $1,001,351.00. Following the transaction, the chief financial officer now owns 116,056 shares in the company, valued at $14,860,970.80. The disclosure for this sale can be found here. Insiders have sold 124,271 shares of company stock worth $15,613,440 over the last quarter. 0.36% of the stock is owned by company insiders.
Splunk Company Profile
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 investigate, monitor, analyze, and act on 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; Splunk Cloud; and Splunk Light, which offers log search and analysis for small IT environments.
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