Avalon Global Asset Management Lowers stake in Splunk Inc (SPLK)

Splunk Inc (SPLK) : Avalon Global Asset Management reduced its stake in Splunk Inc by 7.09% during the most recent quarter end. The investment management company now holds a total of 65,530 shares of Splunk Inc which is valued at $3.1 Million after selling 5,000 shares in Splunk Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Splunk Inc makes up approximately 3.22% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Ubs Oconnor boosted its stake in SPLK in the latest quarter, The investment management firm added 62,447 additional shares and now holds a total of 112,447 shares of Splunk Inc which is valued at $5.2 Million. Splunk Inc makes up approx 0.13% of Ubs Oconnor’s portfolio. Summit Securities Group added SPLK to its portfolio by purchasing 8,827 company shares during the most recent quarter which is valued at $411,338. Splunk Inc makes up approx 0.30% of Summit Securities Group’s portfolio. Jefferies Group added SPLK to its portfolio by purchasing 718 company shares during the most recent quarter which is valued at $33,459. Schroder Investment Management Group sold out all of its stake in SPLK during the most recent quarter. The investment firm sold 69,118 shares of SPLK which is valued $3.2 Million. Ausdal Financial Partners sold out all of its stake in SPLK during the most recent quarter. The investment firm sold 5 shares of SPLK which is valued $234.

Splunk Inc opened for trading at $54.94 and hit $55.1 on the upside on Wednesday, eventually ending the session at $54.36, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 17,47,554 shares. Company has a market cap of $7,196 M.

On the company’s financial health, Splunk Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.08. The company had revenue of $220.00 million for the quarter, compared to analysts expectations of $203.04 million. The company’s revenue was up 49.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on Splunk Inc. MKM Partners Initiated Splunk Inc on May 6, 2016 to “Neutral”, Price Target of the shares are set at $55.Company shares were Reiterated by Stifel on Mar 22, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $51 .Splunk Inc was Initiated by Macquarie to “Outperform” on Mar 4, 2016.

Splunk Inc. is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The Company’s products allow users to collect index search explore monitor and analyze data regardless of format or source. The Company’s products address diverse data sets referred to as big data and are specifically tailored for machine-generated data. The Company’s flagship product is Splunk Enterprise which is a machine data engine consisting of collection indexing search reporting analysis alerting and monitoring and data management capabilities. The Company’s Splunk Cloud service delivers the core functionalities of Splunk Enterprise as a cloud service. In addition the Company offers user behavioral analytics to help detect respond to and mitigate advanced hidden and insider threats.

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