UBS Group set a $165.00 target price on Splunk (NASDAQ:SPLK) in a research report released on Friday, TipRanks reports. The firm currently has a buy rating on the software company’s stock.
Several other equities research analysts have also commented on SPLK. Northland Securities restated a buy rating and set a $160.00 target price on shares of Splunk in a research report on Friday, May 24th. Mitsubishi UFJ Financial Group boosted their target price on shares of Splunk to $159.00 and gave the stock an overweight rating in a research report on Friday, May 24th. BMO Capital Markets decreased their target price on shares of Splunk from $162.00 to $157.00 and set an outperform rating on the stock in a research report on Friday, May 24th. They noted that the move was a valuation call. Guggenheim decreased their target price on shares of Splunk from $125.00 to $115.00 and set a neutral rating on the stock in a research report on Friday, May 24th. Finally, Maxim Group reaffirmed a buy rating and set a $148.00 price target (down previously from $159.00) on shares of Splunk in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $144.92.
NASDAQ:SPLK traded up $0.77 during midday trading on Friday, reaching $125.56. The stock had a trading volume of 1,680,693 shares, compared to its average volume of 1,646,433. The firm has a fifty day simple moving average of $132.39 and a two-hundred day simple moving average of $128.99. Splunk has a 12-month low of $83.69 and a 12-month high of $143.70. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.29. The stock has a market cap of $18.55 billion, a P/E ratio of -78.97 and a beta of 2.02.
In other Splunk news, insider Ledger Susan St. sold 2,221 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $119.96, for a total value of $266,431.16. Following the transaction, the insider now directly owns 235,094 shares of the company’s stock, valued at approximately $28,201,876.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy Tully sold 4,624 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $115.59, for a total value of $534,488.16. Following the completion of the transaction, the senior vice president now directly owns 117,261 shares in the company, valued at $13,554,198.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,813 shares of company stock valued at $3,676,685. 0.34% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Splunk by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,338,165 shares of the software company’s stock valued at $140,208,000 after purchasing an additional 42,563 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Splunk by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 166,204 shares of the software company’s stock valued at $17,425,000 after buying an additional 8,366 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Splunk in the first quarter valued at about $272,000. IFM Investors Pty Ltd raised its position 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 valued at $1,221,000 after buying an additional 1,187 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in shares of Splunk in the first quarter valued at about $5,829,000. 92.38% of the stock is currently owned by 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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