Jennison Associates Lowers stake in Splunk Inc (SPLK)

Splunk Inc (SPLK) : Jennison Associates reduced its stake in Splunk Inc by 1.01% during the most recent quarter end. The investment management company now holds a total of 12,507,744 shares of Splunk Inc which is valued at $751,590,337 after selling 127,317 shares in Splunk Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Splunk Inc makes up approximately 0.79% of Jennison Associates’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in SPLK by selling 4,900 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 167,200 shares of SPLK which is valued at $10,047,048. Splunk Inc makes up approx 0.02% of California Public Employees Retirement System’s portfolio. Shelton Capital Management added SPLK to its portfolio by purchasing 3,800 company shares during the most recent quarter which is valued at $228,342. Splunk Inc makes up approx 0.02% of Shelton Capital Management’s portfolio. Quadrant Capital Group added SPLK to its portfolio by purchasing 30 company shares during the most recent quarter which is valued at $1,876.Ibm Retirement Fund boosted its stake in SPLK in the latest quarter, The investment management firm added 642 additional shares and now holds a total of 13,233 shares of Splunk Inc which is valued at $786,040. Splunk Inc makes up approx 0.03% of Ibm Retirement Fund’s portfolio.Independent Portfolio Consultants reduced its stake in SPLK by selling 730 shares or 14.12% in the most recent quarter. The Hedge Fund company now holds 4,440 shares of SPLK which is valued at $257,698. Splunk Inc makes up approx 0.08% of Independent Portfolio Consultants’s portfolio.

Splunk Inc opened for trading at $61.24 and hit $62.41 on the upside on Monday, eventually ending the session at $61.34, with a gain of 2.00% or 1.2 points. The heightened volatility saw the trading volume jump to 15,86,346 shares. Company has a market cap of $8,151 M.

On the company’s financial health, Splunk Inc reported $-0.02 EPS for the quarter, based on the information available during the earnings call on May 26, 2016. Analyst had a consensus estimate of $-0.02. The company had revenue of $186.00 million for the quarter, compared to analysts expectations of $174.18 million. The company’s revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Splunk Inc. Company shares were Reiterated by Maxim Group on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $75 .Citigroup Downgraded Splunk Inc on Jul 20, 2016 to ” Neutral”, Price Target of the shares are set at $62.Company shares were Reiterated by Stifel on Jun 16, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $56 .

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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