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Splunk (NASDAQ:SPLK) shares fell 7% during trading on Friday after an insider sold shares in the company, Analyst Ratings Net reports. The company traded as low as $43.65 and last traded at $43.73, with a volume of 2,202,389 shares changing hands. The stock had previously closed at $47.02.

Specifically, SVP Guido Schroeder sold 10,000 shares of Splunk stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

SPLK has been the subject of a number of recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of Splunk in a research note on Thursday, July 17th. They set a “market perform” rating and a $51.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Splunk from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 9th. They now have a $46.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.63.

The stock’s 50-day moving average is $49.5 and its 200-day moving average is $63.37. The company’s market cap is $5.249 billion.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data 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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