Slow Capital Inc. reduced its holdings in Splunk Inc (NASDAQ:SPLK) by 6.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,855 shares of the software company’s stock after selling 385 shares during the period. Slow Capital Inc.’s holdings in Splunk were worth $736,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cable Hill Partners LLC purchased a new position in shares of Splunk in the 1st quarter worth $25,000. Manchester Financial Inc. purchased a new position in shares of Splunk in the 2nd quarter worth $29,000. Whittier Trust Co. grew its stake in shares of Splunk by 115.0% in the 2nd quarter. Whittier Trust Co. now owns 273 shares of the software company’s stock worth $34,000 after buying an additional 146 shares in the last quarter. Trustcore Financial Services LLC purchased a new position in shares of Splunk in the 1st quarter worth $37,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Splunk in the 1st quarter worth $44,000. 92.28% of the stock is owned by institutional investors and hedge funds.

NASDAQ SPLK traded up $3.09 on Tuesday, hitting $132.21. 35,572 shares of the company’s stock traded hands, compared to its average volume of 1,288,293. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.29. Splunk Inc has a 1-year low of $83.69 and a 1-year high of $143.70. The stock’s 50-day moving average price is $132.02. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of -83.20 and a beta of 2.02.

Splunk (NASDAQ:SPLK) last posted its earnings results on Thursday, May 23rd. The software company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. The firm had revenue of $424.90 million during the quarter, compared to analyst estimates of $395.92 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. As a group, equities research analysts forecast that Splunk Inc will post -0.99 EPS for the current year.

In related news, insider Ledger Susan St. sold 2,221 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $119.96, for a total value of $266,431.16. Following the completion of the sale, the insider now owns 235,094 shares of the company’s stock, valued at $28,201,876.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Merritt sold 13,342 shares of the company’s stock in a transaction dated 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 directly owns 296,211 shares of the company’s stock, valued at approximately $34,126,469.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,813 shares of company stock valued at $3,676,685. Company insiders own 0.34% of the company’s stock.

A number of equities analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of Splunk from $162.00 to $157.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Splunk in a research report on Monday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective (up previously from $162.00) on shares of Splunk in a research report on Friday, May 24th. BidaskClub raised shares of Splunk from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $148.00 price objective (down previously from $159.00) on shares of Splunk in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $144.27.

About Splunk

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.

Further Reading: Cost of Equity For A Business, Investors

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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