Splunk to buy cloud software firm SignalFx in US$1bn deal

Frustrated investor holding the bridge of his nose in front of a computer screen

Frustrated investor holding the bridge of his nose in front of a computer screen

More notable recent Splunk Inc. BlackRock Inc. now owns 8,494,532 shares of the software company's stock valued at $1,058,421,000 after buying an additional 408,840 shares in the last quarter.

The acquisition of SignalFx boosts its presence in the application performance monitoring market, allowing it to go neck and neck with the industry leaders Cisco AppDynamics and Dynatrace.

Splunk offers software solutions to monitor and analyse machine data in real-time for IT and security operations, and is listed on the Nasdaq stock exchange. Geode Capital Management LLC now owns 1,338,165 shares of the software company's stock worth $140,208,000 after purchasing an additional 42,563 shares in the last quarter.

Splunk, a multinational data and software company, announced a definitive agreement to acquire SignalFx, a SaaS provider in real-time monitoring and metrics for cloud infrastructure, microservices and applications. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in shares of Splunk by 2.3% during the first quarter.

In other news, SVP Timothy Tully sold 4,624 shares of the business's stock in a transaction that occurred on Wednesday, June 12th. $152.40's average target is 32.26% above currents $115.23 stock price. Following the completion of the transaction, the general counsel now owns 60,768 shares of the company's stock, valued at approximately $7,002,296.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The shares were sold at an average price of $115.13, for a total transaction of $1,185,608.74.

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Institutional investors have recently made changes to their positions in the company. The disclosure for this sale can be found here. Preceding that transaction, on Jun 13 Company's President, WW Field Operations sold 2,206 at a price of 117.45, making the whole transaction's value amount to 259,095. Corporate insiders own 0.34% of the company's stock. Piper Jaffray reinitiated it with "Overweight" rating and $16000 target in Monday, June 24 report. Goldman Sachs Group initiated coverage on Splunk in a report on Friday, June 7th. This will be paid 60pc in cash and 40pc in Splunk common stock. They noted that the move was a valuation call. Finally, Northland Securities reissued a "buy" rating and issued a $160.00 price target on shares of Splunk in a research note on Friday, May 24th. Out of 25 Wall Street analysts rating Splunk Inc, 21 give it "Buy", 1 "Sell" rating, while 3 recommend "Hold". One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock now has an average rating of "Buy" and a consensus target price of $144.29.

NASDAQ SPLK opened at $128.46 on Thursday. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. The business has a 50 day simple moving average of $132.41 and a two-hundred day simple moving average of $128.95. Splunk Inc has a 12-month low of $83.69 and a 12-month high of $143.70. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of -73.79 and a beta of 2.02. Splunk crushed FactSet's earnings estimate of United States dollars 0.12 per share and revenue forecast of USD 488.4 Million.

In addition to impressive earnings, revenue for Splunk grew 33% year over year, with license revenue the biggest portion at $279 million, beating estimates by about $29 million. Splunk had a negative net margin of 16.31% and a negative return on equity of 14.98%. During the same period a year ago, the business earned $0.08 EPS.

Business is evolving at a speed that requires new approaches for software development, deployment and monitoring. Specifically, SignalFX touts its NoSample tail-based distributed tracing as an exclusive part of a platform gaining attention in the world of cloud-vendor services and smart Enterprise Resource Planning architectures.

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