Splunk (NASDAQ:SPLK) PT Raised to $125.00

Splunk (NASDAQ:SPLK – Get Rating) had its price target upped by Wells Fargo & Company from $115.00 to $125.00 in a research report released on Thursday morning, The Fly reports.

SPLK has been the subject of a number of other research reports. Piper Sandler raised their price target on shares of Splunk from $105.00 to $118.00 in a research report on Thursday, March 2nd. Royal Bank of Canada raised their price target on shares of Splunk from $110.00 to $120.00 and gave the stock an outperform rating in a research report on Tuesday, February 21st. Barclays raised their price target on shares of Splunk from $122.00 to $130.00 in a research report on Thursday. TheStreet raised shares of Splunk from a d rating to a c- rating in a report on Thursday, March 2nd. Finally, Bank of America lifted their price objective on shares of Splunk from $110.00 to $125.00 and gave the stock a buy rating in a report on Wednesday, February 22nd. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $118.19.

Splunk Trading Down 1.0 %

SPLK opened at $95.70 on Thursday. The firm’s 50 day moving average is $90.47 and its 200-day moving average is $90.70. Splunk has a 52-week low of $65.00 and a 52-week high of $116.84.

Splunk (NASDAQ:SPLK – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The software company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $1.41. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.07 billion. On average, sell-side analysts anticipate that Splunk will post -0.55 EPS for the current year.

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 2,000 shares of Splunk stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $101.04, for a total transaction of $202,080.00. Following the sale, the senior vice president now directly owns 115,907 shares in the company, valued at $11,711,243.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Splunk news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were 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 in the company, valued at $11,711,243.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total transaction of $320,250.00. Following the completion of the sale, the director now owns 14,481 shares in the company, valued at $1,520,505. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Splunk

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Meiji Yasuda Life Insurance Co raised its position in Splunk by 3.6% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock worth $455,000 after acquiring an additional 105 shares in the last quarter. Sandy Spring Bank increased its stake in Splunk by 24.7% in the 4th quarter. Sandy Spring Bank now owns 545 shares of the software company’s stock worth $47,000 after purchasing an additional 108 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in Splunk by 2.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 4,436 shares of the software company’s stock worth $382,000 after purchasing an additional 114 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Splunk by 2.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,118 shares of the software company’s stock worth $491,000 after purchasing an additional 119 shares in the last quarter. Finally, Lincoln National Corp increased its stake in Splunk by 4.2% in the 1st quarter. Lincoln National Corp now owns 3,039 shares of the software company’s stock worth $291,000 after purchasing an additional 122 shares in the last quarter. 85.71% of the stock is currently 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.