Splunk Inc (NASDAQ:SPLK) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 7,613,140 shares, a growth of 35.2% from the October 15th total of 5,629,414 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily volume of 3,268,942 shares, the days-to-cover ratio is currently 2.3 days.
A number of brokerages have recently issued reports on SPLK. Zacks Investment Research lowered Splunk from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Credit Suisse Group increased their target price on Splunk from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Rosenblatt Securities reiterated a “buy” rating and set a $135.00 target price on shares of Splunk in a research report on Sunday, August 26th. Piper Jaffray Companies increased their target price on Splunk to $135.00 and gave the company an “overweight” rating in a research report on Friday, August 24th. Finally, Barclays increased their target price on Splunk from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $123.63.
Shares of SPLK stock opened at $98.54 on Friday. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of -75.22 and a beta of 2.15. Splunk has a fifty-two week low of $67.01 and a fifty-two week high of $130.00.
Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $388.30 million for 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 firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities research analysts forecast that Splunk will post -1.15 earnings per share for the current fiscal year.
In other news, Director Godfrey Sullivan sold 8,750 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $126.00, for a total transaction of $1,102,500.00. Following the sale, the director now owns 144,755 shares of the company’s stock, valued at approximately $18,239,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark T. Carges sold 2,091 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $124.87, for a total value of $261,103.17. Following the transaction, the director now owns 19,444 shares in the company, valued at approximately $2,427,972.28. The disclosure for this sale can be found here. Insiders have sold a total of 69,032 shares of company stock worth $8,640,864 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SPLK. Morgan Stanley raised its holdings in shares of Splunk by 16.3% during the 2nd quarter. Morgan Stanley now owns 926,433 shares of the software company’s stock worth $91,819,000 after acquiring an additional 130,133 shares during the period. ING Groep NV purchased a new position in shares of Splunk during the 2nd quarter worth $297,000. Cowen Inc. raised its holdings in shares of Splunk by 66.4% during the 2nd quarter. Cowen Inc. now owns 42,834 shares of the software company’s stock worth $4,245,000 after acquiring an additional 17,100 shares during the period. Bridgewater Associates LP purchased a new position in shares of Splunk during the 2nd quarter worth $7,962,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Splunk by 152.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,651 shares of the software company’s stock worth $164,000 after acquiring an additional 996 shares during the period. Institutional investors own 89.78% of the company’s stock.
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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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