Avalon Global Asset Management buys $5,493,592 stake in Splunk Inc (SPLK)

Splunk Inc (SPLK) : Avalon Global Asset Management scooped up 20,000 additional shares in Splunk Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 85,530 shares of Splunk Inc which is valued at $5,493,592.Splunk Inc makes up approximately 4.68% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in SPLK in the latest quarter, The investment management firm added 41,269 additional shares and now holds a total of 377,336 shares of Splunk Inc which is valued at $24,236,291. Splunk Inc makes up approx 0.03% of Credit Suisse Ag’s portfolio. Mizuho Asset Managementltd. added SPLK to its portfolio by purchasing 4,039 company shares during the most recent quarter which is valued at $259,425. Splunk Inc makes up approx 0.05% of Mizuho Asset Managementltd.’s portfolio.Castleark Management reduced its stake in SPLK by selling 170 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 85,220 shares of SPLK which is valued at $5,473,681. Splunk Inc makes up approx 0.17% of Castleark Management’s portfolio.Pittenger Anderson Inc reduced its stake in SPLK by selling 45 shares or 7.63% in the most recent quarter. The Hedge Fund company now holds 545 shares of SPLK which is valued at $33,430.Diversified Trust Co reduced its stake in SPLK by selling 2,560 shares or 12.52% in the most recent quarter. The Hedge Fund company now holds 17,880 shares of SPLK which is valued at $1,063,860. Splunk Inc makes up approx 0.14% of Diversified Trust Co’s portfolio.

Splunk Inc opened for trading at $64.44 and hit $65.33 on the upside on Tuesday, eventually ending the session at $64.85, with a gain of 1.55% or 0.99 points. The heightened volatility saw the trading volume jump to 19,30,926 shares. Company has a market cap of $8,617 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 RBC Capital Mkts on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .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 .

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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