Splunk Sees Unusually Large Options Volume (NASDAQ:SPLK)

Splunk Inc. (NASDAQ:SPLK – Get Rating) was the target of unusually large options trading activity on Thursday. Investors acquired 14,400 call options on the company. This is an increase of approximately 60% compared to the average daily volume of 9,023 call options.

Insider Buying and Selling

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

Hedge Funds Weigh In On Splunk

A number of institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC bought a new position in shares of Splunk during the 1st quarter valued at $1,527,000. Raymond James Trust N.A. boosted its position in Splunk by 34.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after buying an additional 1,268 shares during the period. Prudential PLC purchased a new stake in Splunk during the 1st quarter valued at $357,000. National Pension Service boosted its position in Splunk by 8.1% during the 1st quarter. National Pension Service now owns 251,984 shares of the software company’s stock valued at $37,447,000 after buying an additional 18,834 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in Splunk during the 1st quarter valued at $89,000. Institutional investors own 85.71% of the company’s stock.

Splunk Trading Down 1.0 %

Splunk stock opened at $95.70 on Friday. The firm’s 50 day simple moving average is $90.47 and its 200 day simple moving average is $90.70. The firm has a market capitalization of $15.84 billion, a PE ratio of -48.83 and a beta of 1.29. Splunk has a 1-year low of $65.00 and a 1-year high of $116.84.

Splunk (NASDAQ:SPLK – Get Rating) last posted its 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 firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.07 billion. Research analysts forecast that Splunk will post -0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

SPLK has been the subject of several recent research reports. Bank of America boosted their target price on shares of Splunk from $125.00 to $130.00 in a research report on Thursday. William Blair assumed coverage on shares of Splunk in a research report on Wednesday, April 19th. They set an “outperform” rating for the company. Cowen boosted their price target on shares of Splunk from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, February 21st. Citigroup boosted their price target on shares of Splunk from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, March 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Splunk from $120.00 to $125.00 in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Splunk presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.19.

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.