Splunk Inc (SPLK) Director John G. Connors Sells 42,000 Shares

Splunk Inc (NASDAQ:SPLK) Director John G. Connors sold 42,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $124.10, for a total value of $5,212,200.00. Following the transaction, the director now owns 70,720 shares of the company’s stock, valued at $8,776,352. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

SPLK stock traded down $0.83 during trading on Friday, reaching $128.08. 1,264,847 shares of the company traded hands, compared to its average volume of 1,456,918. Splunk Inc has a 12 month low of $83.69 and a 12 month high of $143.70. The company has a market cap of $19.22 billion, a P/E ratio of -80.55 and a beta of 2.03. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.23 and a quick ratio of 3.23.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Thursday, February 28th. The software company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The business had revenue of $622.09 million during the quarter, compared to analyst estimates of $562.22 million. Splunk had a negative return on equity of 14.59% and a negative net margin of 15.28%. On average, analysts anticipate that Splunk Inc will post -1.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sage Rhino Capital LLC purchased a new position in shares of Splunk in the first quarter worth about $374,000. Gulf International Bank UK Ltd raised its stake in shares of Splunk by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 35,034 shares of the software company’s stock worth $4,365,000 after purchasing an additional 280 shares during the last quarter. Oakbrook Investments LLC raised its stake in shares of Splunk by 62.8% in the first quarter. Oakbrook Investments LLC now owns 6,350 shares of the software company’s stock worth $791,000 after purchasing an additional 2,450 shares during the last quarter. Pennsylvania Trust Co purchased a new position in shares of Splunk in the first quarter worth about $5,829,000. Finally, IFM Investors Pty Ltd raised its stake in shares of Splunk by 13.8% in the first quarter. IFM Investors Pty Ltd now owns 9,796 shares of the software company’s stock worth $1,221,000 after purchasing an additional 1,187 shares during the last quarter. 93.77% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Splunk from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Piper Jaffray Companies upped their price objective on Splunk to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, February 27th. Argus upped their price objective on Splunk to $156.00 and gave the stock a “buy” rating in a report on Friday, March 8th. BMO Capital Markets upped their price objective on Splunk from $132.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. They noted that the move was a valuation call. Finally, ValuEngine raised Splunk from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $143.84.

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About Splunk

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 investigate, monitor, analyze, and act on 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; Splunk Cloud; and Splunk Light, which offers log search and analysis for small IT environments.

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