Today: The Splunk Inc. (SPLK) Stake Held by Glynn Capital Management LLC

The Splunk Inc. (SPLK) Stake Held by Glynn Capital Management LLC

Glynn Capital Management LLC continued to hold its stake in shares of Splunk Inc. (NASDAQ:SPLK) during the second quarter, Holdings Channel reports. The firm owned 280,094 shares of the software company’s stock at the end of the second quarter. Splunk makes up about 4.9% of Glynn Capital Management LLC’s holdings, making the stock its 8th largest position. Glynn Capital Management LLC’s holdings in Splunk were worth $15,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SPLK. Wellington Management Group LLP acquired a new position in Splunk during the first quarter valued at approximately $93,277,000. Renaissance Technologies LLC acquired a new position in Splunk during the first quarter valued at approximately $11,058,000. Adage Capital Partners GP L.L.C. acquired a new position in Splunk during the first quarter valued at approximately $10,031,000. Jag Capital Management LLC acquired a new position in Splunk during the second quarter valued at approximately $9,244,000. Finally, Lazard Asset Management LLC raised its position in Splunk by 20.7% in the first quarter. Lazard Asset Management LLC now owns 1,040,590 shares of the software company’s stock valued at $50,916,000 after buying an additional 178,600 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Shares of Splunk Inc. (NASDAQ:SPLK) traded up 0.32% during trading on Monday, hitting $56.89. The stock had a trading volume of 1,603,931 shares. The stock’s 50 day moving average is $59.11 and its 200 day moving average is $56.57. Splunk Inc. has a 52 week low of $29.85 and a 52 week high of $66.90. The stock’s market capitalization is $7.65 billion.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $200.52 million. Splunk had a negative return on equity of 38.45% and a negative net margin of 42.84%. The company’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts expect that Splunk Inc. will post $0.29 earnings per share for the current fiscal year.

Several research firms recently commented on SPLK. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Splunk in a research note on Friday. Vetr upgraded Splunk from a “buy” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Wednesday, October 12th. Citigroup Inc. dropped their target price on Splunk from $65.00 to $63.00 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. Guggenheim lowered Splunk from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $66.00 target price on shares of Splunk in a research note on Friday, September 30th. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $67.55.

In other Splunk news, SVP Steven R. Sommer sold 5,000 shares of Splunk stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $63.80, for a total transaction of $319,000.00. Following the sale, the senior vice president now directly owns 212,527 shares of the company’s stock, valued at $13,559,222.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of Splunk stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.93, for a total value of $7,587,237.50. Following the sale, the director now directly owns 440,426 shares in the company, valued at $25,954,304.18. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Splunk Company Profile

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

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