Verus Capital Partners LLC boosted its stake in Splunk Inc (NASDAQ:SPLK) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,400 shares of the software company’s stock after purchasing an additional 300 shares during the quarter. Verus Capital Partners LLC’s holdings in Splunk were worth $177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in Splunk in the 4th quarter valued at $207,366,000. Alliancebernstein L.P. grew its holdings in shares of Splunk by 212.7% in the first quarter. Alliancebernstein L.P. now owns 1,631,488 shares of the software company’s stock worth $205,943,000 after purchasing an additional 1,109,788 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Splunk by 36.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,227,375 shares of the software company’s stock worth $281,162,000 after buying an additional 597,306 shares during the period. Westfield Capital Management Co. LP raised its holdings in Splunk by 68.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,344,429 shares of the software company’s stock valued at $201,355,000 after buying an additional 548,012 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Splunk by 7.8% during the 1st quarter. Jennison Associates LLC now owns 6,568,690 shares of the software company’s stock valued at $829,166,000 after buying an additional 473,790 shares during the last quarter. 92.86% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SPLK traded down $1.54 on Friday, reaching $191.50. 9,819 shares of the stock traded hands, compared to its average volume of 1,884,425. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of -62.07 and a beta of 1.61. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 1.16. Splunk Inc has a 12 month low of $93.92 and a 12 month high of $197.22. The company’s fifty day simple moving average is $175.04 and its 200 day simple moving average is $151.09.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 21st. The software company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. Splunk had a negative net margin of 20.56% and a negative return on equity of 17.40%. The business had revenue of $434.08 million during the quarter, compared to analyst estimates of $443.60 million. During the same period last year, the business earned $0.02 EPS. Splunk’s revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Splunk Inc will post -3.31 EPS for the current fiscal year.

SPLK has been the topic of a number of analyst reports. Wells Fargo & Co boosted their price objective on shares of Splunk from $205.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday. SunTrust Banks restated a “buy” rating and set a $180.00 price target on shares of Splunk in a report on Friday, May 22nd. JMP Securities upped their price target on Splunk from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Piper Sandler lifted their price objective on Splunk from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, Bank of America boosted their target price on Splunk from $208.00 to $249.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $182.30.

In other news, CEO Douglas Merritt sold 10,762 shares of Splunk stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $126.87, for a total value of $1,365,374.94. Following the completion of the sale, the chief executive officer now directly owns 246,962 shares in the company, valued at $31,332,068.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Graham Smith sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $191.00, for a total transaction of $95,500.00. Following the completion of the transaction, the director now directly owns 39,917 shares in the company, valued at approximately $7,624,147. The disclosure for this sale can be found here. Insiders sold 141,401 shares of company stock valued at $22,265,131 over the last quarter. Company insiders own 0.34% of the company’s stock.

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.

Further Reading: Return On Assets

Want to see what other hedge funds are holding SPLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Splunk Inc (NASDAQ:SPLK).

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

Receive News & Ratings for Splunk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Splunk and related companies with MarketBeat.com's FREE daily email newsletter.