Connor Clark & Lunn Investment Management Ltd. Sells 50,830 Shares of Splunk Inc. (NASDAQ:SPLK)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Splunk Inc. (NASDAQ:SPLKGet Rating) by 36.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,992 shares of the software company’s stock after selling 50,830 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Splunk were worth $10,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new stake in shares of Splunk during the third quarter valued at approximately $29,000. Consolidated Planning Corp bought a new stake in Splunk in the third quarter valued at $29,000. First Command Bank bought a new stake in Splunk in the third quarter valued at $43,000. ICICI Prudential Asset Management Co Ltd bought a new stake in Splunk in the fourth quarter valued at $46,000. Finally, O Shaughnessy Asset Management LLC grew its position in Splunk by 55.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 331 shares of the software company’s stock valued at $48,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

SPLK opened at $90.04 on Tuesday. Splunk Inc. has a 12-month low of $89.63 and a 12-month high of $176.66. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of -10.91 and a beta of 1.32. The business has a 50 day moving average of $129.23 and a 200-day moving average of $127.50. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 14.09.

Splunk (NASDAQ:SPLKGet Rating) last released its quarterly earnings data on Wednesday, March 2nd. The software company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.85. Splunk had a negative return on equity of 128.38% and a negative net margin of 50.08%. The company had revenue of $901.12 million during the quarter, compared to analysts’ expectations of $774.08 million. During the same period last year, the firm posted ($0.61) earnings per share. As a group, analysts expect that Splunk Inc. will post -4.83 earnings per share for the current year.

In other Splunk news, CAO Timothy Emanuelson sold 389 shares of Splunk stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $125.00, for a total value of $48,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott Morgan sold 1,588 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $112.25, for a total value of $178,253.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,269 shares of company stock valued at $392,490. 0.27% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on the company. Barclays cut their price target on Splunk from $160.00 to $157.00 and set an “overweight” rating on the stock in a research note on Thursday, March 3rd. JPMorgan Chase & Co. cut their target price on Splunk from $140.00 to $133.00 and set a “neutral” rating on the stock in a research note on Thursday, March 3rd. StockNews.com initiated coverage on Splunk in a report on Thursday, March 31st. They issued a “hold” rating for the company. Rosenblatt Securities restated a “buy” rating and issued a $185.00 price target on shares of Splunk in a report on Thursday, March 3rd. Finally, JMP Securities downgraded Splunk from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $160.57.

About Splunk (Get Rating)

Splunk Inc, together with its subsidiaries, 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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