Shares of Splunk Inc (NASDAQ:SPLK) have earned a consensus rating of “Buy” from the thirty-four ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $146.01.
A number of research analysts have recently commented on the company. BidaskClub raised Splunk from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Piper Jaffray Companies upped their price target on Splunk to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price target (up previously from $145.00) on shares of Splunk in a research report on Friday, March 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $200.00 price target (up previously from $170.00) on shares of Splunk in a research report on Friday, March 1st. Finally, Maxim Group upped their price target on Splunk to $159.00 and gave the company a “buy” rating in a research report on Friday, March 1st.
SPLK stock traded up $2.57 during midday trading on Tuesday, hitting $121.89. The company’s stock had a trading volume of 12,820 shares, compared to its average volume of 2,587,370. The company’s 50-day moving average is $125.20. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.29. Splunk has a 1 year low of $83.69 and a 1 year high of $143.70. The stock has a market cap of $17.76 billion, a PE ratio of -76.71 and a beta of 2.14.
In other Splunk news, Director John G. Connors sold 42,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.10, for a total value of $5,212,200.00. Following the transaction, the director now directly owns 70,720 shares in the company, valued at approximately $8,776,352. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Tully sold 6,655 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $128.06, for a total value of $852,239.30. Following the completion of the transaction, the senior vice president now owns 127,727 shares in the company, valued at $16,356,719.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,174 shares of company stock worth $11,991,876. 0.36% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cable Hill Partners LLC bought a new position in Splunk in the 1st quarter worth about $25,000. Berman Capital Advisors LLC bought a new position in Splunk in the 4th quarter worth about $29,000. Trustcore Financial Services LLC bought a new position in Splunk in the 1st quarter worth about $37,000. Bessemer Group Inc. increased its stake in Splunk by 192.2% in the 4th quarter. Bessemer Group Inc. now owns 301 shares of the software company’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in Splunk in the 1st quarter worth about $44,000.
Splunk, Inc engages in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for information technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M.
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