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Splunk (NASDAQ:SPLK) was the recipient of a large decrease in short interest in the month of May. As of May 30th, there was short interest totalling 5,292,588 shares, a decrease of 25.6% from the May 15th total of 7,110,892 shares, American Banking & Market News reports. Based on an average trading volume of 5,794,498 shares, the days-to-cover ratio is currently 0.9 days. Approximately 4.6% of the shares of the company are sold short.

In other Splunk news, Director Nicholas G. Sturiale sold 4,565 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.83, for a total transaction of $209,213.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $72.98.

Splunk (NASDAQ:SPLK) opened at 49.15 on Tuesday. Splunk has a 1-year low of $39.35 and a 1-year high of $106.15. The stock has a 50-day moving average of $46.91 and a 200-day moving average of $68.2. The company’s market cap is $5.828 billion.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results 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.

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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