Splunk (NASDAQ:SPLK) Hits New 52-Week High at $151.59

Splunk Inc. (NASDAQ:SPLK) reached a new 52-week high on Tuesday . The company traded as high as $151.59 and last traded at $151.55, with a volume of 484685 shares trading hands. The stock had previously closed at $151.29.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Splunk from $117.00 to $125.00 and gave the company a “neutral” rating in a research note on Tuesday, September 19th. Loop Capital cut shares of Splunk from a “buy” rating to a “hold” rating and upped their target price for the company from $135.00 to $157.00 in a research note on Friday, September 22nd. William Blair cut shares of Splunk from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 21st. Argus cut shares of Splunk from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, TD Cowen upped their target price on shares of Splunk from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, August 24th. Twenty-three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $132.68.

Splunk Stock Up 0.1 %

The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of -458.67, a price-to-earnings-growth ratio of 12.39 and a beta of 1.09. The company’s fifty day moving average is $143.66 and its two-hundred day moving average is $117.74.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Wednesday, August 23rd. The software company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. Splunk had a negative return on equity of 22.78% and a negative net margin of 0.61%. The company had revenue of $910.59 million for the quarter, compared to the consensus estimate of $889.29 million. During the same quarter in the prior year, the business posted ($0.94) EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities research analysts expect that Splunk Inc. will post 0.41 EPS for the current year.

Insider Buying and Selling

In related news, SVP Christian Smith sold 1,500 shares of Splunk stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $146.27, for a total transaction of $219,405.00. Following the completion of the sale, the senior vice president now directly owns 104,548 shares of the company’s stock, valued at $15,292,235.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Scott Morgan sold 4,000 shares of Splunk stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $151.10, for a total transaction of $604,400.00. Following the completion of the sale, the senior vice president now directly owns 105,535 shares of the company’s stock, valued at $15,946,338.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Christian Smith sold 1,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $146.27, for a total value of $219,405.00. Following the completion of the transaction, the senior vice president now directly owns 104,548 shares of the company’s stock, valued at $15,292,235.96. The disclosure for this sale can be found here. Insiders sold a total of 29,962 shares of company stock valued at $3,967,513 over the last three months. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. acquired a new position in Splunk in the second quarter valued at about $710,000. Orion Capital Management LLC acquired a new position in Splunk in the third quarter valued at about $33,000. Venturi Wealth Management LLC acquired a new position in Splunk in the third quarter valued at about $42,000. CENTRAL TRUST Co grew its stake in Splunk by 204.1% in the second quarter. CENTRAL TRUST Co now owns 298 shares of the software company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in Splunk in the third quarter valued at about $44,000. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Company Profile

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.