Axel Capital Management LLC grew its position in shares of Splunk Inc (NASDAQ:SPLK) by 90.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the software company’s stock after purchasing an additional 45,000 shares during the quarter. Splunk makes up about 8.8% of Axel Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Axel Capital Management LLC owned 0.07% of Splunk worth $9,415,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Splunk in the fourth quarter worth approximately $6,188,000. Envestnet Asset Management Inc. boosted its position in shares of Splunk by 7.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,473 shares of the software company’s stock worth $866,000 after purchasing an additional 698 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Splunk in the fourth quarter worth approximately $456,000. Hanseatic Management Services Inc. bought a new position in shares of Splunk in the first quarter worth approximately $960,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Splunk by 20.5% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,921 shares of the software company’s stock worth $484,000 after purchasing an additional 836 shares during the period. 89.73% of the stock is owned by institutional investors.
In related news, Director Graham Smith sold 4,000 shares of Splunk stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $121.01, for a total value of $484,040.00. Following the completion of the sale, the director now directly owns 53,226 shares in the company, valued at approximately $6,440,878.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Neustaetter sold 4,070 shares of Splunk stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $118.70, for a total transaction of $483,109.00. Following the completion of the sale, the director now owns 10,981 shares of the company’s stock, valued at $1,303,444.70. The disclosure for this sale can be found here. Insiders sold a total of 70,426 shares of company stock valued at $8,319,665 over the last quarter. 0.36% of the stock is owned by company insiders.
Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Splunk had a negative net margin of 20.55% and a negative return on equity of 28.26%. The business had revenue of $388.30 million for the quarter, compared to analysts’ expectations of $358.46 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. equities analysts expect that Splunk Inc will post -1.15 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on SPLK shares. Citigroup lowered shares of Splunk from a “neutral” rating to a “sell” rating in a research report on Friday, June 15th. Bank of America upped their target price on shares of Splunk from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Maxim Group upped their target price on shares of Splunk to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Piper Jaffray Companies upped their target price on shares of Splunk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, May 21st. Finally, Deutsche Bank upped their target price on shares of Splunk from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.11.
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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