Splunk (SPLK) Rating Lowered to Hold at BidaskClub

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

Several other research analysts also recently commented on the company. Mizuho assumed coverage on Splunk in a report on Wednesday. They set a “buy” rating and a $150.00 target price on the stock. Argus lifted their target price on Splunk to $156.00 and gave the stock a “buy” rating in a report on Friday, March 8th. Zacks Investment Research downgraded Splunk from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Morgan Stanley set a $121.00 target price on Splunk and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Barclays lifted their target price on Splunk from $154.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $141.94.

Shares of SPLK opened at $127.32 on Friday. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of -80.08 and a beta of 2.05. Splunk has a 12 month low of $83.69 and a 12 month high of $143.70. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.84 and a current ratio of 3.84.

In related news, General Counsel Scott Morgan sold 1,366 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $124.49, for a total value of $170,053.34. Following the completion of the sale, the general counsel now directly owns 46,807 shares of the company’s stock, valued at approximately $5,827,003.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leonard R. Stein sold 8,344 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $125.28, for a total value of $1,045,336.32. Following the completion of the sale, the senior vice president now directly owns 75,833 shares of the company’s stock, valued at $9,500,358.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,193 shares of company stock valued at $8,477,525. Corporate insiders own 0.36% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC bought a new stake in Splunk in the 4th quarter valued at about $315,000. Hartline Investment Corp acquired a new position in Splunk during the 3rd quarter valued at about $3,112,000. Sanoor Capital Management LP acquired a new position in Splunk during the 3rd quarter valued at about $18,729,000. Hsbc Holdings PLC boosted its stake in Splunk by 8.2% during the 3rd quarter. Hsbc Holdings PLC now owns 928,970 shares of the software company’s stock valued at $112,320,000 after purchasing an additional 70,791 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Splunk by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 18,100 shares of the software company’s stock valued at $1,897,000 after purchasing an additional 348 shares during the last quarter. 93.95% of the stock is owned by institutional investors and hedge funds.

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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