Splunk Inc (NASDAQ:SPLK) was down 6.1% on Tuesday . The stock traded as low as $93.55 and last traded at $94.94. Approximately 5,445,033 shares changed hands during mid-day trading, an increase of 168% from the average daily volume of 2,030,552 shares. The stock had previously closed at $101.14.
Several equities research analysts have recently weighed in on SPLK shares. Deutsche Bank upped their price target on shares of Splunk from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Bank of America reaffirmed a “buy” rating and issued a $135.00 price target on shares of Splunk in a research report on Friday, August 24th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price (up previously from $127.00) on shares of Splunk in a research report on Friday, August 24th. Monness Crespi & Hardt increased their target price on shares of Splunk from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Finally, Maxim Group increased their target price on shares of Splunk from $126.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $123.63.
The firm has a market cap of $15.29 billion, a PE ratio of -72.47 and a beta of 2.15.
Splunk (NASDAQ:SPLK) last issued its earnings results on Thursday, August 23rd. The software company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Splunk had a negative net margin of 20.55% and a negative return on equity of 26.44%. The company had revenue of $388.30 million for the quarter, compared to the consensus estimate of $358.46 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Splunk’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, sell-side analysts expect that Splunk Inc will post -1.15 EPS for the current fiscal year.
In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $126.00, for a total transaction of $1,102,500.00. Following the completion of the sale, the director now directly owns 144,755 shares in the company, valued at $18,239,130. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas Merritt sold 23,572 shares of Splunk stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $124.58, for a total transaction of $2,936,599.76. The disclosure for this sale can be found here. Insiders have sold 69,032 shares of company stock worth $8,640,864 over the last ninety days. 0.36% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Motley Fool Wealth Management LLC increased its position in shares of Splunk by 0.3% during the third quarter. Motley Fool Wealth Management LLC now owns 287,515 shares of the software company’s stock valued at $34,763,000 after acquiring an additional 975 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Splunk by 35.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,362 shares of the software company’s stock valued at $890,000 after purchasing an additional 1,919 shares in the last quarter. Chemical Bank acquired a new position in shares of Splunk in the third quarter valued at approximately $452,000. Penserra Capital Management LLC grew its holdings in shares of Splunk by 35.0% in the third quarter. Penserra Capital Management LLC now owns 4,876 shares of the software company’s stock valued at $588,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Splunk by 88.7% in the third quarter. Janney Montgomery Scott LLC now owns 7,401 shares of the software company’s stock valued at $895,000 after purchasing an additional 3,478 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.
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Splunk Company Profile (NASDAQ:SPLK)
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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