Insider Selling: Splunk CMO Unloads 1,968 Shares of Stock (SPLK)
Splunk (NASDAQ:SPLK) CMO Steven R. Sommer sold 1,968 shares of Splunk stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $44.37, for a total transaction of $87,320.16. Following the sale, the chief marketing officer now directly owns 143,722 shares in the company, valued at approximately $6,376,945. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Splunk (NASDAQ:SPLK) traded up 2.10% on Thursday, hitting $45.75. 3,438,418 shares of the company’s stock traded hands. 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 was the target of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 5,292,588 shares, a decline of 25.6% from the May 15th total of 7,110,892 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 5,794,498 shares, the days-to-cover ratio is presently 0.9 days.
Splunk (NASDAQ:SPLK) last released its earnings data on Thursday, May 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 50.2% on a year-over-year basis.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.98.
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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