Cambridge Trust Co. acquired a new stake in Splunk Inc. (NASDAQ:SPLK) during the second quarter, Holdings Channel reports. The institutional investor acquired 7,036 shares of the software company’s stock, valued at approximately $400,000.

A number of other hedge funds have also modified their holdings of SPLK. IFP Advisors Inc increased its stake in shares of Splunk by 0.6% in the first quarter. IFP Advisors Inc now owns 3,304 shares of the software company’s stock valued at $206,000 after buying an additional 20 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Splunk by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 18,241 shares of the software company’s stock valued at $1,038,000 after buying an additional 62 shares during the last quarter. Patten Group Inc. increased its stake in shares of Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock valued at $131,000 after buying an additional 75 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Splunk by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,759 shares of the software company’s stock valued at $1,542,000 after buying an additional 118 shares during the last quarter. Finally, Aperio Group LLC increased its stake in shares of Splunk by 1.3% in the second quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock valued at $740,000 after buying an additional 164 shares during the last quarter.

Shares of Splunk Inc. (NASDAQ SPLK) opened at 59.75 on Monday. The stock’s 50 day moving average price is $58.86 and its 200-day moving average price is $61.19. Splunk Inc. has a one year low of $50.64 and a one year high of $69.23. The company’s market cap is $8.27 billion.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 25th. The software company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The firm had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. During the same period in the prior year, the firm earned ($0.02) EPS. The company’s revenue was up 30.4% compared to the same quarter last year. On average, analysts expect that Splunk Inc. will post $0.52 EPS for the current year.

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Several brokerages recently commented on SPLK. MKM Partners reaffirmed a “neutral” rating and set a $63.00 price objective (up previously from $60.00) on shares of Splunk in a research note on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 price objective on shares of Splunk in a research note on Sunday, May 28th. BTIG Research began coverage on Splunk in a research note on Monday, April 17th. They set a “buy” rating and a $80.00 price objective on the stock. Guggenheim raised Splunk from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $70.00 in a research note on Thursday, June 22nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $71.00 price objective on shares of Splunk in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.77.

In other news, CFO David F. Conte sold 1,044 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total transaction of $64,936.80. Following the completion of the transaction, the chief financial officer now directly owns 207,965 shares of the company’s stock, valued at approximately $12,935,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $57.58, for a total transaction of $7,413,425.00. Following the transaction, the director now directly owns 843,290 shares of the company’s stock, valued at $48,556,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 358,056 shares of company stock valued at $20,784,524 over the last three months. Insiders own 3.00% of the company’s stock.

About Splunk

Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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