Glassy Mountain Advisors Inc. Makes New $1.46 Million Investment in Splunk Inc. (NASDAQ:SPLK)
Glassy Mountain Advisors Inc. purchased a new position in Splunk Inc. (NASDAQ:SPLK – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,953 shares of the software company’s stock, valued at approximately $1,459,000.
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A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Splunk by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,476,529 shares of the software company’s stock worth $1,163,836,000 after acquiring an additional 173,486 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Splunk by 6.6% in the 3rd quarter. Primecap Management Co. CA now owns 8,913,780 shares of the software company’s stock worth $670,316,000 after purchasing an additional 548,230 shares during the period. Clearbridge Investments LLC lifted its position in shares of Splunk by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock worth $855,038,000 after purchasing an additional 628,288 shares during the period. First Trust Advisors LP lifted its position in shares of Splunk by 7.8% in the 3rd quarter. First Trust Advisors LP now owns 3,257,906 shares of the software company’s stock worth $244,994,000 after purchasing an additional 236,007 shares during the period. Finally, Whale Rock Capital Management LLC lifted its position in shares of Splunk by 68.5% in the 2nd quarter. Whale Rock Capital Management LLC now owns 2,748,086 shares of the software company’s stock worth $243,096,000 after purchasing an additional 1,117,545 shares during the period. Institutional investors own 85.71% of the company’s stock.
Insider Activity
In related news, SVP Scott Morgan sold 2,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Scott Morgan sold 2,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the transaction, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elisa Steele sold 3,050 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $105.00, for a total transaction of $320,250.00. Following the sale, the director now owns 14,481 shares in the company, valued at approximately $1,520,505. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Splunk Price Performance
SPLK stock traded down $0.60 during mid-day trading on Friday, reaching $89.15. The company had a trading volume of 2,602,605 shares, compared to its average volume of 1,847,676. The company has a market capitalization of $14.59 billion, a PE ratio of -45.48 and a beta of 1.29. The firm has a 50 day moving average of $97.53 and a 200 day moving average of $87.95. Splunk Inc. has a 12 month low of $65.00 and a 12 month high of $150.79.
Analyst Upgrades and Downgrades
SPLK has been the subject of several research analyst reports. Needham & Company LLC raised their target price on shares of Splunk from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Mizuho dropped their target price on shares of Splunk from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, March 2nd. Wedbush assumed coverage on shares of Splunk in a research report on Wednesday, December 14th. They set a “neutral” rating and a $86.00 price target for the company. Citigroup lifted their price target on shares of Splunk from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, March 3rd. Finally, Morgan Stanley decreased their target price on shares of Splunk from $123.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, December 19th. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Splunk presently has an average rating of “Moderate Buy” and an average price target of $115.23.
About Splunk
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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