Splunk (NASDAQ:SPLK) Stock Price Down 6.2% on Insider Selling

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Splunk Inc (NASDAQ:SPLK)’s share price was down 6.2% during trading on Thursday following insider selling activity. The company traded as low as $116.57 and last traded at $116.99, approximately 3,267,500 shares changed hands during trading. An increase of 86% from the average daily volume of 1,752,542 shares. The stock had previously closed at $124.72.

Specifically, insider Ledger Susan St. sold 8,096 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $125.00, for a total value of $1,012,000.00. Following the transaction, the insider now directly owns 210,537 shares of the company’s stock, valued at approximately $26,317,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Tully sold 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $115.21, for a total transaction of $505,887.11. The disclosure for this sale can be found here. Insiders sold a total of 26,906 shares of company stock worth $3,187,086 over the last three months. Corporate insiders own 0.34% of the company’s stock.

A number of research analysts have weighed in on SPLK shares. Wedbush reissued an “outperform” rating and issued a $153.00 target price on shares of Splunk in a research note on Tuesday. Cleveland Research lowered shares of Splunk from a “buy” rating to a “neutral” rating in a research note on Thursday. Goldman Sachs Group raised their target price on shares of Splunk from $131.00 to $119.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. BidaskClub lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $157.00 price target on shares of Splunk in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $148.59.

The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average is $119.24 and its two-hundred day moving average is $123.65. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of -74.97 and a beta of 2.03.

Splunk (NASDAQ:SPLK) last posted its earnings results on Wednesday, August 21st. The software company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.16. Splunk had a negative net margin of 15.16% and a negative return on equity of 12.73%. The firm had revenue of $516.56 million during the quarter, compared to the consensus estimate of $488.97 million. During the same quarter last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. Analysts predict that Splunk Inc will post -0.88 EPS for the current year.

A number of institutional investors have recently bought and sold shares of SPLK. Price T Rowe Associates Inc. MD increased its holdings in Splunk by 8.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,287,809 shares of the software company’s stock valued at $3,054,191,000 after purchasing an additional 1,942,047 shares during the last quarter. Invesco Ltd. grew its stake in shares of Splunk by 231.1% in the second quarter. Invesco Ltd. now owns 1,141,819 shares of the software company’s stock worth $143,584,000 after acquiring an additional 796,914 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Splunk by 910.6% in the second quarter. Nuveen Asset Management LLC now owns 644,226 shares of the software company’s stock worth $81,011,000 after acquiring an additional 580,476 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Splunk by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,535,699 shares of the software company’s stock worth $1,702,114,000 after acquiring an additional 370,125 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Splunk by 19.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,688,527 shares of the software company’s stock worth $199,010,000 after acquiring an additional 280,294 shares in the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.

About Splunk (NASDAQ:SPLK)

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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