Splunk Inc. (NASDAQ:SPLK) Short Interest Update
Splunk Inc. (NASDAQ:SPLK) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 14,138,427 shares, an increase of 9.1% from the July 14th total of 12,959,997 shares. Based on an average daily trading volume, of 1,220,515 shares, the days-to-cover ratio is currently 11.6 days. Currently, 10.4% of the company’s shares are short sold.
Shares of Splunk (SPLK) opened at 56.83 on Friday. The stock’s 50 day moving average is $59.10 and its 200 day moving average is $61.28. The stock’s market cap is $7.86 billion. Splunk has a 52-week low of $50.64 and a 52-week high of $69.23.
Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 25th. The software company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Splunk had a negative return on equity of 40.82% and a negative net margin of 35.19%. The firm had revenue of $242.40 million during the quarter, compared to the consensus estimate of $233.79 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue was up 30.4% compared to the same quarter last year. On average, equities analysts predict that Splunk will post $0.52 EPS for the current fiscal year.
In related news, CFO David F. Conte sold 1,044 shares of Splunk stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $62.20, for a total value of $64,936.80. Following the sale, the chief financial officer now owns 207,965 shares in the company, valued at $12,935,423. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 48,750 shares of Splunk stock in a transaction on Monday, June 12th. The shares were sold at an average price of $56.94, for a total transaction of $2,775,825.00. Following the completion of the sale, the director now owns 843,290 shares in the company, valued at approximately $48,016,932.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 358,056 shares of company stock worth $20,784,524. 3.00% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Splunk by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 126,859 shares of the software company’s stock worth $6,490,000 after buying an additional 2,193 shares during the period. Teachers Advisors LLC increased its stake in Splunk by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 247,016 shares of the software company’s stock worth $12,635,000 after buying an additional 4,922 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in Splunk during the first quarter worth approximately $1,860,000. Gulf International Bank UK Ltd boosted its position in shares of Splunk by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 41,660 shares of the software company’s stock valued at $2,595,000 after buying an additional 500 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Splunk by 293.5% in the first quarter. Bank of Montreal Can now owns 103,462 shares of the software company’s stock valued at $6,445,000 after buying an additional 77,166 shares in the last quarter.
Several research firms recently weighed in on SPLK. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 price target (down previously from $71.00) on shares of Splunk in a report on Friday, August 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of Splunk in a report on Monday, July 31st. BidaskClub cut shares of Splunk from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Susquehanna Bancshares Inc began coverage on shares of Splunk in a report on Wednesday, June 7th. They issued a “neutral” rating and a $68.00 price target on the stock. Finally, MKM Partners reiterated a “neutral” rating and issued a $63.00 price target (up previously from $60.00) on shares of Splunk in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $70.77.
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.
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