Splunk (NASDAQ:SPLK) had its target price increased by Mizuho from $160.00 to $175.00 in a research report released on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the software company’s stock.
Several other brokerages also recently issued reports on SPLK. First Analysis downgraded Splunk from an outperform rating to a neutral rating and set a $157.00 price objective for the company. in a research note on Tuesday, January 14th. Zacks Investment Research downgraded Splunk from a buy rating to a hold rating and set a $119.00 price target for the company. in a research note on Thursday, October 17th. Barclays raised their price target on Splunk from $142.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, November 22nd. Goldman Sachs Group raised Splunk from a neutral rating to a buy rating and raised their price target for the stock from $147.00 to $180.00 in a research note on Monday, December 2nd. Finally, Maxim Group raised their price target on Splunk from $148.00 to $155.00 and gave the stock a buy rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $161.55.
Splunk stock traded up $1.59 during mid-day trading on Thursday, hitting $172.52. The company’s stock had a trading volume of 961,662 shares, compared to its average volume of 1,342,015. The firm’s 50 day moving average is $157.20 and its 200 day moving average is $134.15. The company has a market cap of $26.66 billion, a PE ratio of -82.94 and a beta of 2.02. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.33 and a quick ratio of 2.33. Splunk has a 52-week low of $107.16 and a 52-week high of $173.84.
In other Splunk news, insider Ledger Susan St. sold 2,617 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $162.95, for a total value of $426,440.15. Following the sale, the insider now owns 182,605 shares of the company’s stock, valued at approximately $29,755,484.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Timothy Emanuelson sold 1,096 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $167.59, for a total value of $183,678.64. Following the completion of the sale, the chief accounting officer now directly owns 28,528 shares in the company, valued at approximately $4,781,007.52. The disclosure for this sale can be found here. Insiders sold a total of 53,827 shares of company stock worth $8,003,783 in the last ninety days. Insiders own 0.34% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPLK. First Trust Advisors LP grew its holdings in Splunk by 61.3% in the 4th quarter. First Trust Advisors LP now owns 1,452,776 shares of the software company’s stock valued at $217,582,000 after buying an additional 552,172 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Splunk by 68.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,344,429 shares of the software company’s stock worth $201,355,000 after purchasing an additional 548,012 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in shares of Splunk during the 4th quarter worth approximately $62,955,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Splunk by 19.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,688,527 shares of the software company’s stock worth $199,010,000 after purchasing an additional 280,294 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of Splunk by 31.6% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,137,268 shares of the software company’s stock worth $134,038,000 after purchasing an additional 273,075 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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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