Splunk Inc. (NASDAQ:SPLK) Given Average Recommendation of “Moderate Buy” by Brokerages

Splunk Inc. (NASDAQ:SPLK – Get Rating) has been assigned an average rating of “Moderate Buy” from the thirty-three ratings firms that are covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $113.73.

Several equities research analysts have issued reports on SPLK shares. Bank of America lifted their price target on Splunk from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Barclays boosted their target price on Splunk from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Evercore ISI lowered their target price on Splunk to $119.00 in a research note on Friday, December 2nd. StockNews.com started coverage on Splunk in a research note on Thursday. They issued a “hold” rating for the company. Finally, Wedbush started coverage on Splunk in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $86.00 target price for the company.

Splunk Stock Up 2.2 %

Shares of SPLK stock opened at $89.75 on Friday. The business has a 50-day moving average price of $97.41 and a two-hundred day moving average price of $87.98. Splunk has a 12-month low of $65.00 and a 12-month high of $150.79. The firm has a market cap of $14.69 billion, a P/E ratio of -45.79 and a beta of 1.29.

Insiders Place Their Bets

In other news, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the sale, the director now directly owns 14,481 shares of the company’s stock, valued at approximately $1,520,505. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the sale, the senior vice president now directly owns 115,907 shares of the company’s stock, valued at approximately $11,711,243.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elisa Steele sold 3,050 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the transaction, the director now directly owns 14,481 shares in the company, valued at $1,520,505. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Splunk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Splunk by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,476,529 shares of the software company’s stock valued at $1,163,836,000 after acquiring an additional 173,486 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Splunk by 6.6% during the 3rd quarter. Primecap Management Co. CA now owns 8,913,780 shares of the software company’s stock valued at $670,316,000 after buying an additional 548,230 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after buying an additional 628,288 shares during the period. First Trust Advisors LP lifted its holdings in shares of Splunk by 7.8% during the 3rd quarter. First Trust Advisors LP now owns 3,257,906 shares of the software company’s stock valued at $244,994,000 after buying an additional 236,007 shares during the period. Finally, Whale Rock Capital Management LLC lifted its holdings in shares of Splunk by 68.5% during the 2nd quarter. Whale Rock Capital Management LLC now owns 2,748,086 shares of the software company’s stock valued at $243,096,000 after buying an additional 1,117,545 shares during the period. 85.71% of the stock is owned by institutional investors.

Splunk Company Profile

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Splunk, Inc engages in the development and marketing of cloud 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.