Point72 Asset Management L.P. Makes New $39.38 Million Investment in Splunk Inc. (NASDAQ:SPLK)

Point72 Asset Management L.P. purchased a new position in shares of Splunk Inc. (NASDAQ:SPLK) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 290,703 shares of the software company’s stock, valued at approximately $39,384,000. Point72 Asset Management L.P. owned approximately 0.18% of Splunk as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SPLK. Sarasin & Partners LLP increased its stake in shares of Splunk by 41.2% in the first quarter. Sarasin & Partners LLP now owns 1,100,935 shares of the software company’s stock worth $149,155,000 after buying an additional 321,388 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Splunk by 7.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 20,455 shares of the software company’s stock worth $3,475,000 after buying an additional 1,458 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Splunk by 20.0% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the software company’s stock worth $1,138,000 after buying an additional 1,400 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Splunk by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 61,857 shares of the software company’s stock worth $8,380,000 after buying an additional 1,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Splunk by 6.7% in the first quarter. Geode Capital Management LLC now owns 1,915,824 shares of the software company’s stock valued at $259,191,000 after acquiring an additional 120,304 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Splunk from $235.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, June 1st. Evercore ISI cut their price target on shares of Splunk from $225.00 to $186.00 and set an “outperform” rating on the stock in a report on Thursday, June 3rd. Citigroup cut their price target on shares of Splunk from $170.00 to $125.00 and set a “neutral” rating on the stock in a report on Monday, June 7th. BMO Capital Markets lifted their price target on shares of Splunk from $144.00 to $148.00 and gave the company an “outperform” rating in a report on Wednesday, June 23rd. Finally, Mizuho lifted their price target on shares of Splunk from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, June 23rd. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $181.88.

In related news, CEO Douglas Merritt sold 7,561 shares of the stock in a transaction that occurred on Wednesday, June 16th. The shares were sold at an average price of $122.64, for a total value of $927,281.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Timothy Emanuelson sold 718 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $89,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock valued at $1,277,372 in the last ninety days. Insiders own 0.27% of the company’s stock.

Shares of NASDAQ:SPLK opened at $137.57 on Thursday. Splunk Inc. has a fifty-two week low of $110.28 and a fifty-two week high of $225.89. The stock has a 50-day simple moving average of $127.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.87. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of -20.61 and a beta of 1.25.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, June 1st. The software company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.21). Splunk had a negative net margin of 46.72% and a negative return on equity of 49.90%. The business had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $491.85 million. During the same period in the previous year, the company earned ($0.56) EPS. Splunk’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Splunk Inc. will post -4.89 EPS for the current year.

Splunk Company Profile

Splunk Inc provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems in the United States and internationally. The company offers Splunk Platform, a real-time data platform comprising collection, streaming, indexing, search, reporting, analysis, machine learning, alerting, monitoring, and data management capabilities.

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Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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