Stock price when the opinion was issued
Splunk acquisition in cybersecurity segment has secured a lot more recurring revenue for the company. Steady eddy. Keeps making good acquisitions and integrating. Good management, balance sheet, and dividend yield.
Not cheap anymore, so he sold on the valuation call. Nothing wrong with the business per se if you have a very long horizon.
After delivering a blow-out quarter in August, shares jumped 33%. Then they just announced another strong quarter, beating top and bottom and delivering excellent guidance and raising their full-year forecast.