Splunk (NASDAQ:SPLK) had its price objective increased by Robert W. Baird from $85.00 to $90.00 in a research note issued to investors on Monday. The firm currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 9.14% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the stock. Citigroup reaffirmed a “hold” rating and set a $73.00 price objective on shares of Splunk in a research report on Monday, November 27th. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, November 21st. Barclays raised their price target on shares of Splunk from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Bank of America raised their price target on shares of Splunk from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Finally, FBN Securities raised their price target on shares of Splunk to $90.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-nine have given a buy rating to the company’s stock. Splunk presently has an average rating of “Buy” and a consensus target price of $82.88.
Splunk (SPLK) traded up $1.27 during trading hours on Monday, hitting $82.46. 2,422,900 shares of the company were exchanged, compared to its average volume of 1,664,109. Splunk has a 1 year low of $50.64 and a 1 year high of $84.88.
In related news, CFO David F. Conte sold 21,589 shares of Splunk stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $68.99, for a total transaction of $1,489,425.11. Following the sale, the chief financial officer now directly owns 161,022 shares in the company, valued at approximately $11,108,907.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Godfrey Sullivan sold 120,000 shares of Splunk stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $68.22, for a total transaction of $8,186,400.00. Following the sale, the director now owns 585,790 shares in the company, valued at $39,962,593.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 386,916 shares of company stock valued at $26,202,550. Corporate insiders own 1.43% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Aperio Group LLC raised its stake in Splunk by 1.3% during the 2nd quarter. Aperio Group LLC now owns 13,005 shares of the software company’s stock worth $740,000 after acquiring an additional 164 shares in the last quarter. Prudential Financial Inc. increased its stake in Splunk by 2.9% in the second quarter. Prudential Financial Inc. now owns 7,140 shares of the software company’s stock valued at $406,000 after purchasing an additional 200 shares during the period. IFP Advisors Inc increased its stake in Splunk by 6.2% in the second quarter. IFP Advisors Inc now owns 3,508 shares of the software company’s stock valued at $200,000 after purchasing an additional 204 shares during the period. Salem Investment Counselors Inc. increased its stake in Splunk by 5.2% in the second quarter. Salem Investment Counselors Inc. now owns 6,465 shares of the software company’s stock valued at $368,000 after purchasing an additional 320 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Splunk by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 127,208 shares of the software company’s stock valued at $7,924,000 after purchasing an additional 349 shares during the period.
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Splunk Company Profile
Splunk Inc (Splunk) is engaged in the development and marketing of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. Its offerings address diverse data sets that are referred to as big data and are specifically used for machine data.
