Taylor Frigon Capital Management LLC lessened its stake in Splunk Inc (NASDAQ:SPLK) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,713 shares of the software company’s stock after selling 2,679 shares during the period. Splunk accounts for approximately 1.6% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 20th largest position. Taylor Frigon Capital Management LLC’s holdings in Splunk were worth $2,141,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Splunk in the second quarter valued at $104,000. Point72 Hong Kong Ltd acquired a new position in Splunk in the second quarter valued at $110,000. Centaurus Financial Inc. acquired a new position in Splunk in the second quarter valued at $124,000. Nvwm LLC acquired a new position in Splunk in the second quarter valued at $160,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Splunk by 152.1% in 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 in the last quarter. Institutional investors own 89.78% of the company’s stock.
NASDAQ SPLK opened at $94.94 on Wednesday. The stock has a market cap of $15.29 billion, a P/E ratio of -72.47 and a beta of 2.15. Splunk Inc has a 52-week low of $67.01 and a 52-week high of $130.00.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Splunk had a negative net margin of 20.55% and a negative return on equity of 26.44%. The company had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that Splunk Inc will post -1.15 EPS for the current fiscal year.
In other Splunk news, insider Douglas Merritt sold 23,572 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $124.58, for a total value of $2,936,599.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $124.87, for a total transaction of $261,103.17. Following the completion of the transaction, the director now directly owns 19,444 shares of the company’s stock, valued at $2,427,972.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,032 shares of company stock valued at $8,640,864. 0.36% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on SPLK. Zacks Investment Research downgraded shares of Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Credit Suisse Group increased their target price on shares of Splunk from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Rosenblatt Securities reiterated a “buy” rating and set a $135.00 target price on shares of Splunk in a research note on Sunday, August 26th. Piper Jaffray Companies increased their target price on shares of Splunk to $135.00 and gave the stock an “overweight” rating in a research note on Friday, August 24th. Finally, Barclays increased their target price on shares of Splunk from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.63.
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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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