FormulaFolio Investments LLC Purchases 718 Shares of Splunk Inc (SPLK)

FormulaFolio Investments LLC raised its position in shares of Splunk Inc (NASDAQ:SPLK) by 22.2% in the first quarter, HoldingsChannel.com reports. The firm owned 3,957 shares of the software company’s stock after buying an additional 718 shares during the quarter. FormulaFolio Investments LLC’s holdings in Splunk were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in shares of Splunk by 11.9% during the 1st quarter. Parallel Advisors LLC now owns 714 shares of the software company’s stock valued at $89,000 after purchasing an additional 76 shares during the period. Taylor Frigon Capital Management LLC grew its stake in shares of Splunk by 0.5% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 17,800 shares of the software company’s stock valued at $1,866,000 after purchasing an additional 87 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Splunk by 0.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,282 shares of the software company’s stock valued at $1,183,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems grew its stake in shares of Splunk by 0.4% during the 4th quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock valued at $2,841,000 after purchasing an additional 100 shares during the period. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of Splunk by 2.3% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 4,400 shares of the software company’s stock valued at $548,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 93.65% of the company’s stock.

NASDAQ SPLK opened at $138.27 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.23 and a current ratio of 3.23. Splunk Inc has a 12 month low of $83.69 and a 12 month high of $143.70. The company has a market capitalization of $20.76 billion, a P/E ratio of -86.96 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, February 28th. The software company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). Splunk had a negative return on equity of 14.59% and a negative net margin of 15.28%. The business had revenue of $622.09 million during the quarter, compared to analysts’ expectations of $562.22 million. As a group, equities analysts forecast that Splunk Inc will post -1.08 earnings per share for the current year.

In related news, CFO David F. Conte sold 4,991 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $128.03, for a total value of $638,997.73. Following the transaction, the chief financial officer now directly owns 123,965 shares of the company’s stock, valued at approximately $15,871,238.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia Morrison sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $134.44, for a total value of $672,200.00. Following the completion of the transaction, the director now directly owns 26,359 shares in the company, valued at $3,543,703.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,271 shares of company stock worth $15,613,440. 0.36% of the stock is owned by insiders.

A number of research analysts have recently weighed in on SPLK shares. BidaskClub cut Splunk from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Mizuho started coverage on Splunk in a research report on Wednesday, March 13th. They set a “buy” rating and a $150.00 price objective on the stock. Wedbush lifted their price objective on Splunk from $146.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Barclays lifted their price objective on Splunk from $154.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Co lifted their price objective on Splunk from $145.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $143.84.

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Splunk Company Profile

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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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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