Cim Investment Management Inc. raised its holdings in Splunk Inc. (NASDAQ:SPLK) by 33.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,521 shares of the software company’s stock after purchasing an additional 3,387 shares during the quarter. Splunk accounts for approximately 0.6% of Cim Investment Management Inc.’s portfolio, making the stock its 21st largest position. Cim Investment Management Inc.’s holdings in Splunk were worth $1,955,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc raised its position in shares of Splunk by 16.8% during the second quarter. IFP Advisors Inc now owns 10,955 shares of the software company’s stock worth $1,575,000 after acquiring an additional 1,579 shares during the last quarter. Green Alpha Advisors LLC grew its stake in Splunk by 83.7% in the second quarter. Green Alpha Advisors LLC now owns 8,419 shares of the software company’s stock valued at $1,217,000 after acquiring an additional 3,837 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Splunk by 27.4% during the second quarter. Exchange Traded Concepts LLC now owns 6,941 shares of the software company’s stock worth $1,004,000 after buying an additional 1,493 shares during the period. White Pine Investment CO acquired a new position in shares of Splunk during the second quarter worth about $3,803,000. Finally, SG Americas Securities LLC boosted its position in shares of Splunk by 62.2% during the second quarter. SG Americas Securities LLC now owns 478,535 shares of the software company’s stock worth $69,187,000 after buying an additional 183,511 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.
In other news, CEO Douglas Merritt sold 27,526 shares of the firm’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $151.55, for a total transaction of $4,171,565.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Timothy Emanuelson sold 363 shares of Splunk stock in a transaction on Monday, August 16th. The shares were sold at an average price of $147.16, for a total transaction of $53,419.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,639 shares of company stock worth $4,793,931. Corporate insiders own 0.27% of the company’s stock.
Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, August 24th. The software company reported ($0.62) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.07. Splunk had a negative net margin of 49.60% and a negative return on equity of 55.19%. The business had revenue of $605.74 million during the quarter, compared to the consensus estimate of $563.27 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts forecast that Splunk Inc. will post -5.71 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. Needham & Company LLC upped their price objective on Splunk from $198.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. UBS Group raised Splunk from a “neutral” rating to a “buy” rating and increased their price target for the stock from $137.00 to $175.00 in a research report on Wednesday, August 11th. JMP Securities raised their target price on Splunk from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Robert W. Baird raised their price objective on Splunk from $150.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Finally, Barclays raised their target price on Splunk from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $175.10.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics and industries. The company was founded by Erik M.
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