Insider Selling: Splunk CEO Unloads 7,500 Shares of Stock (SPLK)
Splunk (NASDAQ:SPLK) CEO Godfrey Sullivan sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $43.62, for a total value of $327,150.00. Following the transaction, the chief executive officer now directly owns 432,190 shares of the company’s stock, valued at approximately $18,852,128. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SPLK shares. Analysts at Janney Montgomery Scott initiated coverage on shares of Splunk in a research note on Monday, June 2nd. They set a “neutral” rating and a $46.00 price target on the stock. Separately, analysts at Oppenheimer cut their price target on shares of Splunk from $95.00 to $77.00 in a research note on Friday, May 30th. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Splunk from $110.00 to $74.00 in a research note on Friday, May 30th. They now have a “positive” rating on the stock. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Splunk has a consensus rating of “Buy” and a consensus price target of $72.98.
Splunk (NASDAQ:SPLK) traded up 2.10% on Thursday, hitting $45.75. The stock had a trading volume of 3,438,418 shares. Splunk has a 1-year low of $39.35 and a 1-year high of $106.15. The stock’s 50-day moving average is $47.44 and its 200-day moving average is $68.66. The company’s market cap is $5.366 billion. Splunk also saw a large drop in short interest during the month of May. As of May 30th, there was short interest totalling 5,292,588 shares, a drop of 25.6% from the May 15th total of 7,110,892 shares. Based on an average daily volume of 5,794,498 shares, the short-interest ratio is currently 0.9 days. Currently, 4.6% of the shares of the company are short sold.
Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Thursday, May 29th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.02. The company had revenue of $85.90 million for the quarter, compared to the consensus estimate of $80.74 million. During the same quarter last year, the company posted ($0.06) earnings per share. Splunk’s revenue was up 50.2% compared to the same quarter last year.
Splunk Inc provides software products. The Company’s products enable users to collect, index, and search, explore, monitor and analyze data regardless of format or source.
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