Soma Equity Partners LP Acquires Shares of 150,000 SVMK Inc (SVMK)
Soma Equity Partners LP acquired a new stake in SVMK Inc (NASDAQ:SVMK) during the third quarter, according to its most recent filing with the SEC. The firm acquired 150,000 shares of the company’s stock, valued at approximately $2,405,000. SVMK comprises approximately 0.3% of Soma Equity Partners LP’s holdings, making the stock its 12th largest holding.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SVMK. FMR LLC bought a new position in SVMK in the 3rd quarter valued at $56,572,000. Baillie Gifford & Co. bought a new position in SVMK in the 3rd quarter valued at $28,369,000. BlackRock Inc. bought a new position in SVMK in the 3rd quarter valued at $12,023,000. Franklin Resources Inc. bought a new position in SVMK in the 3rd quarter valued at $8,015,000. Finally, JPMorgan Chase & Co. bought a new position in SVMK in the 3rd quarter valued at $3,129,000. Hedge funds and other institutional investors own 50.28% of the company’s stock.
SVMK has been the topic of several recent research reports. JMP Securities initiated coverage on SVMK in a research report on Monday, October 22nd. They issued an “outperform” rating and a $16.00 price target on the stock. SunTrust Banks initiated coverage on SVMK in a research report on Monday, October 22nd. They issued a “buy” rating and a $16.00 price target on the stock. Wells Fargo & Co initiated coverage on SVMK in a research report on Tuesday, November 13th. They issued a “market perform” rating and a $13.00 price target on the stock. ValuEngine upgraded SVMK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Finally, Bank of America initiated coverage on SVMK in a research report on Monday, October 22nd. They issued a “buy” rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. SVMK presently has a consensus rating of “Buy” and a consensus price target of $14.86.
Shares of NASDAQ:SVMK traded down $0.39 during midday trading on Thursday, hitting $13.83. The company had a trading volume of 84,568 shares, compared to its average volume of 633,011. SVMK Inc has a 12 month low of $10.05 and a 12 month high of $20.00. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.14.
SVMK (NASDAQ:SVMK) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The company had revenue of $65.21 million during the quarter, compared to the consensus estimate of $62.93 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities analysts anticipate that SVMK Inc will post -1.41 EPS for the current fiscal year.
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SVMK Inc provides survey software products that enable organizations to engage with their customers, employees, and the markets they serve in the United States and internationally. Its cloud-based SaaS platform helps individuals and organizations to design and distribute surveys that generate an average of approximately 20 million answered questions daily across approximately 190 countries and territories.
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