Teachers Retirement System of The State of Kentucky acquired a new position in shares of Splunk Inc. (NASDAQ:SPLK – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 94,681 shares of the software company’s stock, valued at approximately $7,120,000.
Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management SA lifted its stake in Splunk by 7,606.2% in the third quarter. Assenagon Asset Management SA now owns 1,369,626 shares of the software company’s stock valued at $102,996,000 after buying an additional 1,351,853 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Splunk by 68.5% in the second quarter. Whale Rock Capital Management LLC now owns 2,748,086 shares of the software company’s stock valued at $243,096,000 after buying an additional 1,117,545 shares during the last quarter. Point72 Asset Management LP lifted its stake in Splunk by 984.2% in the second quarter. Point72 Asset Management LP now owns 818,324 shares of the software company’s stock valued at $72,389,000 after buying an additional 742,850 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Splunk by 12.3% in the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after buying an additional 628,288 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Splunk in the third quarter valued at $44,450,000. 85.71% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equity research analysts have issued reports on SPLK shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Splunk in a research note on Tuesday, February 28th. Cowen lifted their price objective on shares of Splunk from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, February 21st. Canaccord Genuity Group cut their price objective on shares of Splunk from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 1st. Piper Sandler lifted their price objective on shares of Splunk from $105.00 to $118.00 in a research note on Thursday, March 2nd. Finally, StockNews.com initiated coverage on shares of Splunk in a research note on Thursday. They set a “hold” rating on the stock. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating for the company. According to data from MarketBeat, Splunk has a consensus rating of “Moderate Buy” and an average target price of $115.23.
Splunk Price Performance
NASDAQ:SPLK opened at $89.15 on Friday. Splunk Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $150.79. The stock’s 50-day moving average is $97.53 and its two-hundred day moving average is $87.95. The stock has a market cap of $14.59 billion, a PE ratio of -45.48 and a beta of 1.29.
Insider Buying and Selling at Splunk
In other Splunk news, Director Elisa Steele sold 3,050 shares of Splunk stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the transaction, the director now owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Elisa Steele sold 3,050 shares of Splunk stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the completion of the sale, the director now directly owns 14,481 shares in the company, valued at approximately $1,520,505. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Also, SVP Scott Morgan sold 2,000 shares of Splunk stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $101.04, for a total value of $202,080.00. Following the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
About Splunk
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Splunk, Inc engages in the development and marketing of cloud 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.
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