Splunk (NASDAQ:SPLK) had its price objective raised by UBS Group from $186.00 to $188.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the software company’s stock.
A number of other equities research analysts have also issued reports on SPLK. Morgan Stanley lifted their target price on shares of Splunk from $158.00 to $172.00 and gave the company an overweight rating in a research note on Friday. Jefferies Financial Group lifted their price objective on Splunk from $145.00 to $150.00 and gave the company a buy rating in a research report on Monday, April 13th. Credit Suisse Group upped their target price on Splunk from $160.00 to $190.00 and gave the stock an outperform rating in a research report on Friday. Raymond James lifted their price target on Splunk from $140.00 to $185.00 and gave the company an outperform rating in a report on Friday. Finally, Oppenheimer increased their price objective on Splunk from $145.00 to $190.00 and gave the stock an outperform rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $175.06.
Splunk stock traded up $20.81 during mid-day trading on Friday, hitting $184.26. The company’s stock had a trading volume of 8,753,828 shares, compared to its average volume of 1,623,223. Splunk has a 52-week low of $93.92 and a 52-week high of $185.26. The company has a market cap of $25.96 billion, a PE ratio of -58.68 and a beta of 1.52. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50 day moving average is $135.50 and its 200 day moving average is $142.29.
In other Splunk news, CEO Douglas Merritt sold 7,001 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $100.07, for a total value of $700,590.07. Following the sale, the chief executive officer now directly owns 267,563 shares in the company, valued at approximately $26,775,029.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott Morgan sold 1,724 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $165.00, for a total transaction of $284,460.00. Following the transaction, the senior vice president now owns 88,114 shares in the company, valued at approximately $14,538,810. The disclosure for this sale can be found here. Insiders have sold 105,607 shares of company stock worth $13,184,846 in the last ninety days. 0.34% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. AE Wealth Management LLC acquired a new position in Splunk in the 4th quarter valued at approximately $250,000. NEXT Financial Group Inc grew its holdings in shares of Splunk by 571.7% during the 4th quarter. NEXT Financial Group Inc now owns 403 shares of the software company’s stock worth $60,000 after purchasing an additional 343 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Splunk during the fourth quarter valued at approximately $217,000. J.W. Cole Advisors Inc. acquired a new position in shares of Splunk in the fourth quarter valued at $348,000. Finally, Landsberg Bennett & Dubbaneh LLC bought a new position in Splunk in the fourth quarter worth $493,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.
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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