Splunk (NASDAQ:SPLK) had its price objective hoisted by research analysts at Morgan Stanley from $121.00 to $140.00 in a research note issued on Tuesday. The brokerage presently has an “equal weight” rating on the software company’s stock. Morgan Stanley’s price objective points to a potential upside of 8.07% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Raymond James lifted their target price on Splunk from $122.00 to $157.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. ValuEngine downgraded Splunk from a “strong-buy” rating to a “buy” rating in a report on Friday, December 21st. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Wednesday, December 12th. TheStreet upgraded Splunk from a “d” rating to a “c-” rating in a report on Friday, November 30th. Finally, Maxim Group lifted their target price on Splunk to $159.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Splunk presently has a consensus rating of “Buy” and a consensus target price of $142.56.
Shares of SPLK stock opened at $129.55 on Tuesday. The company has a market capitalization of $19.00 billion, a price-to-earnings ratio of -81.48 and a beta of 2.05. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 1.14. Splunk has a fifty-two week low of $83.69 and a fifty-two week high of $143.70.
In related news, CFO David F. Conte sold 7,820 shares of Splunk stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.05, for a total transaction of $1,001,351.00. Following the transaction, the chief financial officer now owns 116,056 shares of the company’s stock, valued at $14,860,970.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark T. Carges sold 2,105 shares of Splunk stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $110.00, for a total value of $231,550.00. Following the transaction, the director now directly owns 13,168 shares in the company, valued at approximately $1,448,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,193 shares of company stock worth $8,477,525. 0.36% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in SPLK. Norges Bank purchased a new position in shares of Splunk during the fourth quarter valued at approximately $210,940,000. FIL Ltd boosted its position in shares of Splunk by 182.3% during the third quarter. FIL Ltd now owns 1,565,684 shares of the software company’s stock valued at $189,307,000 after buying an additional 1,011,095 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Splunk by 37.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,278,350 shares of the software company’s stock valued at $134,036,000 after buying an additional 349,380 shares during the last quarter. FMR LLC boosted its position in shares of Splunk by 36.4% during the third quarter. FMR LLC now owns 1,159,890 shares of the software company’s stock valued at $140,242,000 after buying an additional 309,395 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Splunk by 245.5% during the third quarter. AQR Capital Management LLC now owns 431,412 shares of the software company’s stock valued at $52,162,000 after buying an additional 306,564 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.
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.
Further Reading: Coverage Ratio
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