Short Interest in SVMK Inc (NASDAQ:SVMK) Rises By 37.9%

SVMK Inc (NASDAQ:SVMK) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 4,994,000 shares, a growth of 37.9% from the May 15th total of 3,620,300 shares. Based on an average trading volume of 1,430,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 5.4% of the company’s stock are short sold.

Several equities research analysts recently commented on the stock. Zacks Investment Research cut shares of SVMK from a “hold” rating to a “sell” rating in a research report on Thursday, June 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of SVMK in a research report on Monday, June 10th. JPMorgan Chase & Co. boosted their price objective on shares of SVMK from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Finally, Stephens assumed coverage on shares of SVMK in a research report on Friday, March 22nd. They issued an “overweight” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.75.

Shares of SVMK stock traded down $0.37 during trading on Wednesday, hitting $15.84. 1,265,000 shares of the stock were exchanged, compared to its average volume of 1,405,047. The firm has a market cap of $2.18 billion and a PE ratio of -11.08. The stock has a fifty day moving average of $16.77. SVMK has a 1-year low of $10.05 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.31 and a quick ratio of 1.31.

SVMK (NASDAQ:SVMK) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The firm had revenue of $68.64 million for the quarter, compared to analyst estimates of $68.13 million. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Equities research analysts expect that SVMK will post -0.58 earnings per share for the current fiscal year.

In related news, Director Benjamin C. Spero sold 14,100 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.12, for a total value of $227,292.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alexander J. Lurie sold 50,000 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $18.00, for a total transaction of $900,000.00. The disclosure for this sale can be found here. Insiders sold a total of 123,062 shares of company stock worth $2,101,625 over the last ninety days. 26.30% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of SVMK in the third quarter valued at $3,129,000. Vanguard Group Inc. purchased a new stake in shares of SVMK in the third quarter valued at $4,328,000. Rhumbline Advisers purchased a new stake in shares of SVMK in the fourth quarter valued at $258,000. BlackRock Inc. grew its position in shares of SVMK by 166.2% in the fourth quarter. BlackRock Inc. now owns 1,996,824 shares of the company’s stock valued at $24,501,000 after purchasing an additional 1,246,826 shares during the period. Finally, GAM Holding AG purchased a new stake in SVMK during the fourth quarter valued at about $2,609,000. Institutional investors own 72.02% of the company’s stock.

SVMK Company Profile

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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