Splunk (SPLK) Shares Gap Up to $89.91

Shares of Splunk Inc (NASDAQ:SPLK) gapped up prior to trading on Monday . The stock had previously closed at $85.62, but opened at $89.91. Splunk shares last traded at $93.10, with a volume of 5726873 shares.

Several analysts recently commented on SPLK shares. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. KeyCorp lifted their price objective on Splunk from $120.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, October 4th. Bank of America lifted their price objective on Splunk from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Splunk in a report on Sunday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Splunk from $108.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirty have issued a buy rating to the company’s stock. Splunk has a consensus rating of “Buy” and a consensus price target of $124.03.

The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of -71.07 and a beta of 2.07.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $388.30 million during the quarter, compared to analyst estimates of $358.46 million. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Sell-side analysts anticipate that Splunk Inc will post -1.15 EPS for the current year.

In other news, SVP Timothy Tully sold 19,100 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total value of $2,396,286.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Merritt sold 23,572 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $124.58, for a total value of $2,936,599.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,032 shares of company stock valued at $8,640,864. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its stake in shares of Splunk by 2.5% in the third quarter. Xact Kapitalforvaltning AB now owns 23,704 shares of the software company’s stock worth $2,866,000 after acquiring an additional 568 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Splunk by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 44,395 shares of the software company’s stock worth $4,400,000 after buying an additional 606 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Splunk by 1.1% in the first quarter. Guggenheim Capital LLC now owns 58,879 shares of the software company’s stock worth $5,793,000 after buying an additional 665 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Splunk by 19.3% in the second quarter. WINTON GROUP Ltd now owns 4,277 shares of the software company’s stock worth $424,000 after buying an additional 692 shares in the last quarter. Finally, Bank Hapoalim BM lifted its position in shares of Splunk by 19.2% in the second quarter. Bank Hapoalim BM now owns 4,565 shares of the software company’s stock worth $452,000 after buying an additional 735 shares in the last quarter. 89.97% of the stock is owned by hedge funds and other institutional investors.

About Splunk (NASDAQ:SPLK)

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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