Torch Wealth Management Lowers stake in Splunk Inc (SPLK)

Splunk Inc (SPLK) : Torch Wealth Management reduced its stake in Splunk Inc by 0.44% during the most recent quarter end. The investment management company now holds a total of 5,700 shares of Splunk Inc which is valued at $321,138 after selling 25 shares in Splunk Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Splunk Inc makes up approximately 0.24% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in SPLK in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 41,160 shares of Splunk Inc which is valued at $2,318,954. Splunk Inc makes up approx 0.04% of Gulf International Bank (uk) Ltd’s portfolio.Creative Planning boosted its stake in SPLK in the latest quarter, The investment management firm added 451 additional shares and now holds a total of 999 shares of Splunk Inc which is valued at $59,570. Oregon Public Employees Retirement Fund sold out all of its stake in SPLK during the most recent quarter. The investment firm sold 100 shares of SPLK which is valued $6,126.Cutler Group Lp reduced its stake in SPLK by selling 12,968 shares or 67.47% in the most recent quarter. The Hedge Fund company now holds 6,252 shares of SPLK which is valued at $382,998. Splunk Inc makes up approx 0.02% of Cutler Group Lp’s portfolio.Fisher Asset Management boosted its stake in SPLK in the latest quarter, The investment management firm added 223 additional shares and now holds a total of 22,871 shares of Splunk Inc which is valued at $1,401,077.

Splunk Inc closed down -1.63 points or -2.66% at $59.63 with 17,95,321 shares getting traded on Tuesday. Post opening the session at $60.93, the shares hit an intraday low of $59.563 and an intraday high of $61.33 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Splunk Inc was Resumed by JP Morgan to “Overweight” on Oct 14, 2016. Splunk Inc was Downgraded by Guggenheim to ” Neutral” on Oct 4, 2016. Mizuho Initiated Splunk Inc on Sep 21, 2016 to “Neutral”, Price Target of the shares are set at $60.

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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