Do Hedge Funds and Insiders Love Splunk Inc (SPLK)?

Is Splunk Inc (NASDAQ:SPLK) the right pick for your portfolio? Prominent investors are in an optimistic mood. The number of bullish hedge fund bets advanced by one lately. SPLK was in 33 hedge funds’ portfolio at the end of September. There were 32 hedge funds in hedge funds experts Insider Monkey’s database with SPLK positions at the end of the previous quarter.

Splunk Inc (NASDAQ:SPLK)

The second paragraph should mention the list of 10 most popular stocks among hedge funds and link to Insider Monkey. We should also talk about this stock’s relative ranking (whether it is popular among hedge funds or not) in this paragraph.

Now, we’re going to take a look at the recent action encompassing Splunk Inc (NASDAQ:SPLK).

What have hedge funds been doing with Splunk Inc (NASDAQ:SPLK)?

In preparation for this quarter, a total of 33 of the hedge funds we track were long in this stock, a change of 3 percent from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings significantly.

According to hedge fund intelligence website Insider Monkey, Donald Chiboucis’s Columbus Circle Investors had the number one position in Splunk Inc (NASDAQ:SPLK), worth close to $49.3 million, amounting to 0.3 percent of its total 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $43.1 million position; the fund has 0.1 percent of its 13F portfolio invested in the stock. Some other hedgies with similar optimism consist of SAC Subsidiary’s CR Intrinsic Investors, Ken Griffin’s Citadel Investment Group and Steven Cohen’s SAC Capital Advisors.

As one would reasonably expect, key money managers have jumped into Splunk Inc (NASDAQ:SPLK) headfirst. PDT Partners, managed by Peter Muller, created the largest position in Splunk Inc (NASDAQ:SPLK). PDT Partners had 3.1 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $2 million position during the quarter. The other funds with new positions in the stock are Phill Gross and Robert Atchinson’s Adage Capital Management, Steve Shapiro’s Intrepid Capital Management Inc DE, and David Costen Haley’s HBK Investments.

What have insiders been doing with Splunk Inc (NASDAQ:SPLK)?

Insider purchases made by high-level executives is best served when the company in question has seen transactions within the past 180 days. Over the last 180-day time period, Splunk Inc (NASDAQ:SPLK) has experienced zero unique insiders buying, and nine insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Splunk Inc (NASDAQ:SPLK). These stocks are MICROS Systems, Inc. (NASDAQ:MCRS), CommVault Systems, Inc. (NASDAQ:CVLT), Msci Inc (NYSE:MSCI), Fortinet Inc (NASDAQ:FTNT), and Cadence Design Systems Inc (NASDAQ:CDNS). This group of stocks are the members of the application software industry and their market caps are similar to SPLK’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
MICROS Systems, Inc. (NASDAQ:MCRS) 27 0 5
CommVault Systems, Inc. (NASDAQ:CVLT) 20 0 7
Msci Inc (NYSE:MSCI) 14 0 2
Fortinet Inc (NASDAQ:FTNT) 37 0 3
Cadence Design Systems Inc (NASDAQ:CDNS) 26 1 2

Splunk Inc is the second most widely held software industry equity among the hedge funds Insider Monkey tracks.


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