DA Davidson set a $83.00 price objective on Splunk Inc. (NASDAQ:SPLK) in a research report sent to investors on Thursday morning. The firm currently has a buy rating on the software company’s stock.

Other analysts also recently issued research reports about the company. Pacific Crest reaffirmed a buy rating and set a $70.00 price objective on shares of Splunk in a research note on Friday, August 26th. Canaccord Genuity reaffirmed a buy rating and set a $75.00 price objective (up previously from $65.00) on shares of Splunk in a research note on Friday, August 26th. RBC Capital Markets reaffirmed a buy rating and set a $70.00 price objective (up previously from $60.00) on shares of Splunk in a research note on Friday, August 19th. Drexel Hamilton reaffirmed a buy rating and set a $85.00 price objective on shares of Splunk in a research note on Tuesday, August 23rd. Finally, Summit Redstone reaffirmed a buy rating and set a $72.00 price objective on shares of Splunk in a research note on Tuesday, September 6th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $66.77.

Shares of Splunk (NASDAQ:SPLK) traded up 1.18% during trading on Thursday, hitting $58.33. The company had a trading volume of 568,032 shares. Splunk has a 12-month low of $29.85 and a 12-month high of $66.90. The firm has a 50 day moving average of $59.12 and a 200 day moving average of $58.41. The stock’s market cap is $7.85 billion.

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In related news, SVP Leonard R. Stein sold 1,075 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $60.00, for a total transaction of $64,500.00. Following the transaction, the senior vice president now owns 115,262 shares of the company’s stock, valued at approximately $6,915,720. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction 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 transaction, the director now directly owns 440,426 shares in the company, valued at approximately $25,954,304.18. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Shinko Asset Management Co. Ltd. raised its position in Splunk by 9,471.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 36,276 shares of the software company’s stock valued at $1,965,000 after buying an additional 35,897 shares in the last quarter. LS Investment Advisors LLC raised its position in Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after buying an additional 123 shares in the last quarter. IBM Retirement Fund raised its position in Splunk by 5.1% in the second quarter. IBM Retirement Fund now owns 13,233 shares of the software company’s stock valued at $717,000 after buying an additional 642 shares in the last quarter. Jag Capital Management LLC acquired a new position in Splunk during the second quarter valued at approximately $9,244,000. Finally, Capital One National Association raised its position in Splunk by 34.8% in the second quarter. Capital One National Association now owns 6,958 shares of the software company’s stock valued at $377,000 after buying an additional 1,797 shares in the last quarter. 98.38% of the stock is currently owned by institutional investors.

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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