Whittier Trust Co. boosted its holdings in shares of Splunk Inc (NASDAQ:SPLK) by 115.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273 shares of the software company’s stock after purchasing an additional 146 shares during the period. Whittier Trust Co.’s holdings in Splunk were worth $34,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in SPLK. Cable Hill Partners LLC bought a new position in Splunk during the first quarter worth about $25,000. Manchester Financial Inc. acquired a new stake in shares of Splunk during the second quarter worth approximately $29,000. Trustcore Financial Services LLC acquired a new stake in shares of Splunk during the first quarter worth approximately $37,000. Icon Wealth Partners LLC acquired a new stake in shares of Splunk during the first quarter worth approximately $44,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Splunk during the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.
SPLK traded up $1.65 during trading on Tuesday, hitting $124.12. The company had a trading volume of 752,625 shares, compared to its average volume of 1,304,344. The stock has a market capitalization of $18.97 billion, a P/E ratio of -78.06 and a beta of 2.02. Splunk Inc has a one year low of $83.69 and a one year high of $143.70. The stock has a 50-day moving average of $131.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.20 and a quick ratio of 3.20.
In other Splunk news, insider Ledger Susan St. sold 10,298 shares of Splunk stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $115.13, for a total value of $1,185,608.74. Following the sale, the insider now directly owns 247,598 shares in the company, valued at approximately $28,505,957.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Merritt sold 13,342 shares of Splunk stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $115.21, for a total transaction of $1,537,131.82. Following the completion of the sale, the chief executive officer now owns 296,211 shares in the company, valued at $34,126,469.31. The disclosure for this sale can be found here. Insiders sold a total of 31,813 shares of company stock worth $3,676,685 over the last quarter. Company insiders own 0.34% of the company’s stock.
Several analysts have recently weighed in on SPLK shares. Maxim Group reaffirmed a “buy” rating and set a $148.00 price objective (down previously from $159.00) on shares of Splunk in a report on Monday, June 3rd. Zacks Investment Research raised shares of Splunk from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. ValuEngine lowered shares of Splunk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Goldman Sachs Group started coverage on shares of Splunk in a report on Friday, June 7th. They set a “neutral” rating and a $119.00 price objective for the company. Finally, Northland Securities reaffirmed a “buy” rating and set a $160.00 price objective on shares of Splunk in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.27.
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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