Splunk Inc. (SPLK) Short Interest Down 11.6% in May
Splunk Inc. (NASDAQ:SPLK) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 9,710,349 shares, a drop of 11.6% from the May 15th total of 10,990,451 shares. Currently, 7.2% of the shares of the company are sold short. Based on an average trading volume of 2,681,606 shares, the short-interest ratio is presently 3.6 days.
In related news, insider Douglas Merritt sold 10,125 shares of Splunk stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $58.01, for a total transaction of $587,351.25. Following the transaction, the insider now owns 231,440 shares in the company, valued at $13,425,834.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Godfrey Sullivan sold 48,750 shares of Splunk stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $56.94, for a total value of $2,775,825.00. Following the transaction, the director now owns 843,290 shares in the company, valued at approximately $48,016,932.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,748 shares of company stock worth $18,031,006. 3.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. TLP Group LLC acquired a new stake in Splunk during the first quarter worth $102,000. Patten Group Inc. boosted its stake in Splunk by 3.6% in the first quarter. Patten Group Inc. now owns 2,154 shares of the software company’s stock worth $131,000 after buying an additional 75 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Splunk by 79.9% in the first quarter. Acrospire Investment Management LLC now owns 2,701 shares of the software company’s stock worth $168,000 after buying an additional 1,200 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Splunk during the first quarter worth $200,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in Splunk during the first quarter worth $204,000.
A number of equities research analysts have recently weighed in on SPLK shares. Mitsubishi UFJ Financial Group set a $71.00 price objective on Splunk and gave the company a “buy” rating in a research note on Saturday, February 25th. Zacks Investment Research upgraded Splunk from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Saturday, March 4th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Splunk in a report on Wednesday, February 22nd. Drexel Hamilton reiterated a “buy” rating and issued a $90.00 target price on shares of Splunk in a report on Tuesday, February 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of Splunk in a report on Friday, February 24th. Thirteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.41.
Shares of Splunk (NASDAQ:SPLK) opened at 57.50 on Monday. The firm’s market capitalization is $7.96 billion. The stock’s 50 day moving average price is $63.82 and its 200 day moving average price is $60.23. Splunk has a 52 week low of $50.60 and a 52 week high of $69.23.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings data on Thursday, May 25th. The software company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $233.79 million. Splunk had a negative net margin of 35.19% and a negative return on equity of 40.82%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, analysts predict that Splunk will post $0.52 EPS for the current fiscal year.
Splunk Company Profile
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
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