SVMK Inc (NASDAQ:SVMK) Short Interest Update

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SVMK Inc (NASDAQ:SVMK) was the target of a large increase in short interest in March. As of March 13th, there was short interest totalling 3,975,600 shares, an increase of 52.3% from the February 27th total of 2,610,000 shares. Based on an average daily volume of 1,352,900 shares, the days-to-cover ratio is presently 2.9 days. Currently, 4.3% of the company’s stock are short sold.

SVMK has been the subject of a number of research analyst reports. Wells Fargo & Co lifted their price target on shares of SVMK from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. SunTrust Banks reiterated a “buy” rating and issued a $24.00 price target on shares of SVMK in a research note on Thursday, February 13th. BidaskClub upgraded shares of SVMK from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of SVMK from a “sell” rating to a “hold” rating in a research note on Saturday, February 29th. Finally, Zacks Investment Research upgraded shares of SVMK from a “sell” rating to a “hold” rating in a research note on Thursday, March 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.00.

In other SVMK news, SVP Lora D. Blum sold 5,333 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.50, for a total transaction of $98,660.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexander J. Lurie sold 100,703 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $19.96, for a total transaction of $2,010,031.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 556,443 shares of company stock valued at $11,330,653. 26.30% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of SVMK during the first quarter valued at approximately $248,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of SVMK during the first quarter valued at approximately $189,000. Tower Research Capital LLC TRC bought a new stake in shares of SVMK during the third quarter valued at approximately $28,000. State Street Corp raised its position in shares of SVMK by 6.3% during the third quarter. State Street Corp now owns 1,601,181 shares of the company’s stock valued at $27,380,000 after buying an additional 94,210 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of SVMK by 3.5% during the third quarter. California State Teachers Retirement System now owns 133,743 shares of the company’s stock valued at $2,287,000 after buying an additional 4,551 shares during the last quarter. 74.56% of the stock is currently owned by institutional investors and hedge funds.

SVMK opened at $14.04 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -25.07 and a beta of 1.27. The company’s 50 day moving average is $16.86 and its 200 day moving average is $17.58. SVMK has a 12-month low of $9.35 and a 12-month high of $22.27.

SVMK (NASDAQ:SVMK) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.14. The company had revenue of $84.32 million for the quarter, compared to the consensus estimate of $83.83 million. SVMK had a negative net margin of 24.02% and a negative return on equity of 26.31%. As a group, analysts predict that SVMK will post -0.56 EPS for the current fiscal year.

About SVMK

SVMK Inc provides survey software products and purpose-built solutions that enable organizations to engage with their customers, employees, and the markets they serve in the United States and internationally. Its cloud-based SaaS platform helps individuals and organizations to design and distribute surveys that generate an average of approximately 20 million answered questions daily across approximately 190 countries and territories.

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