Splunk Inc (NASDAQ:SPLK) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 4,068,482 shares, a drop of 29.7% from the May 31st total of 5,790,428 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 1,752,417 shares, the days-to-cover ratio is presently 2.3 days.
Several equities analysts have recently weighed in on the stock. Citigroup lowered shares of Splunk from a “neutral” rating to a “sell” rating in a research report on Friday, June 15th. Piper Jaffray Companies increased their price objective on shares of Splunk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, May 21st. Jefferies Financial Group increased their price objective on shares of Splunk to $136.00 and gave the company a “buy” rating in a research report on Friday, May 25th. BTIG Research increased their price objective on shares of Splunk to $130.00 and gave the company a “buy” rating in a research report on Friday, May 25th. Finally, Deutsche Bank increased their price objective on shares of Splunk from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Splunk has an average rating of “Buy” and an average target price of $108.71.
Splunk opened at $96.44 on Thursday, Marketbeat Ratings reports. Splunk has a 12 month low of $55.97 and a 12 month high of $121.64. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of -73.62 and a beta of 1.83.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 24th. The software company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Splunk had a negative net margin of 20.72% and a negative return on equity of 29.90%. The firm had revenue of $311.60 million for the quarter, compared to analyst estimates of $297.58 million. During the same period last year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. equities research analysts predict that Splunk will post -1.27 earnings per share for the current year.
In other Splunk news, CFO David F. Conte sold 20,199 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $97.88, for a total value of $1,977,078.12. Following the completion of the sale, the chief financial officer now owns 168,243 shares in the company, valued at $16,467,624.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Graham Smith sold 4,000 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $121.01, for a total transaction of $484,040.00. Following the completion of the sale, the director now owns 53,226 shares of the company’s stock, valued at approximately $6,440,878.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,059 shares of company stock valued at $17,513,570. Corporate insiders own 0.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. First Mercantile Trust Co. bought a new position in Splunk in the 1st quarter valued at about $100,000. Three Peaks Capital Management LLC bought a new position in Splunk in the 1st quarter valued at about $106,000. James Hambro & Partners bought a new position in Splunk in the 4th quarter valued at about $124,000. Neuberger Berman Group LLC bought a new position in Splunk in the 1st quarter valued at about $204,000. Finally, MANA Advisors LLC acquired a new stake in shares of Splunk in the 4th quarter valued at approximately $208,000. 92.97% of the stock is currently owned by hedge funds and other institutional investors.
Splunk Company Profile
Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.
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