Splunk (SPLK) Rating Lowered to Hold at BidaskClub

Splunk (NASDAQ:SPLK) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

SPLK has been the topic of several other research reports. Zacks Investment Research lowered shares of Splunk from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Piper Jaffray Companies upped their target price on shares of Splunk to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Argus upped their target price on shares of Splunk to $156.00 and gave the stock a “buy” rating in a report on Friday, March 8th. BMO Capital Markets upped their target price on shares of Splunk from $132.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. They noted that the move was a valuation call. Finally, Bank of America reissued a “buy” rating and set a $143.00 price objective (up previously from $140.00) on shares of Splunk in a report on Friday, November 30th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $141.94.

SPLK opened at $126.42 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.84 and a current ratio of 3.84. Splunk has a twelve month low of $83.69 and a twelve month high of $143.70. The stock has a market capitalization of $18.44 billion, a PE ratio of -79.51 and a beta of 2.05.

In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $123.00, for a total transaction of $1,076,250.00. Following the transaction, the director now directly owns 182,155 shares in the company, valued at approximately $22,405,065. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patricia Morrison sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $134.44, for a total transaction of $672,200.00. Following the transaction, the director now owns 26,359 shares in the company, valued at $3,543,703.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,853 shares of company stock worth $3,929,076. Corporate insiders own 0.36% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC lifted its position in Splunk by 0.5% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 17,800 shares of the software company’s stock valued at $1,866,000 after purchasing an additional 87 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Splunk by 0.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,282 shares of the software company’s stock valued at $1,183,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems lifted its position in Splunk by 0.4% during the 4th quarter. Utah Retirement Systems now owns 27,100 shares of the software company’s stock valued at $2,841,000 after purchasing an additional 100 shares during the period. ETRADE Capital Management LLC lifted its position in Splunk by 1.7% during the 4th quarter. ETRADE Capital Management LLC now owns 6,182 shares of the software company’s stock valued at $648,000 after purchasing an additional 104 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in Splunk by 6.4% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,955 shares of the software company’s stock valued at $205,000 after purchasing an additional 118 shares during the period. Institutional investors own 93.95% of the company’s stock.

Splunk Company Profile

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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Analyst Recommendations for Splunk (NASDAQ:SPLK)

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