Shares of Splunk Inc. (NASDAQ:SPLK) have earned an average recommendation of “Buy” from the thirty-five brokerages that are covering the company. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $68.59.

A number of equities analysts have weighed in on the stock. Vetr upgraded shares of Splunk from a “sell” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, September 6th. Summit Redstone restated a “buy” rating and set a $72.00 price objective on shares of Splunk in a research report on Tuesday, September 6th. Drexel Hamilton restated a “buy” rating and set a $85.00 price objective on shares of Splunk in a research report on Tuesday, August 23rd. Barclays PLC upped their price objective on shares of Splunk from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, August 26th. Finally, Robert W. Baird upped their price objective on shares of Splunk from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th.

Splunk (NASDAQ:SPLK) traded down 2.61% during trading on Wednesday, hitting $58.21. 650,781 shares of the company were exchanged. The company’s market capitalization is $7.83 billion. The stock’s 50-day moving average is $59.30 and its 200-day moving average is $58.33. Splunk has a 12 month low of $29.85 and a 12 month high of $66.90.

In other Splunk news, Director Godfrey Sullivan sold 128,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.93, for a total transaction of $7,587,237.50. Following the sale, the director now owns 440,426 shares of the company’s stock, valued at $25,954,304.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Leonard R. Stein sold 3,435 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $58.64, for a total transaction of $201,428.40. Following the sale, the senior vice president now directly owns 116,437 shares in the company, valued at approximately $6,827,865.68. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Splunk by 4.7% in the second quarter. Vanguard Group Inc. now owns 9,693,325 shares of the software company’s stock worth $525,184,000 after buying an additional 438,237 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Splunk by 0.9% in the second quarter. Baillie Gifford & Co. now owns 7,750,654 shares of the software company’s stock worth $419,930,000 after buying an additional 69,890 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Splunk by 37.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,247,157 shares of the software company’s stock worth $307,903,000 after buying an additional 1,427,346 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Splunk by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 4,911,187 shares of the software company’s stock worth $288,499,000 after buying an additional 268,544 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Splunk by 8.3% in the third quarter. Wells Fargo & Company MN now owns 4,822,697 shares of the software company’s stock worth $282,995,000 after buying an additional 371,290 shares during the last quarter. 98.38% of the stock is currently owned by institutional investors.

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Splunk Company Profile

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

5 Day Chart for NASDAQ:SPLK

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