Splunk (SPLK) PT Raised to $115.00 at Wells Fargo & Co
Splunk (NASDAQ:SPLK) had its price objective increased by Wells Fargo & Co from $110.00 to $115.00 in a research note published on Friday. Wells Fargo & Co currently has an outperform rating on the software company’s stock.
SPLK has been the topic of a number of other reports. Robert W. Baird lifted their price objective on shares of Splunk from $85.00 to $90.00 and gave the company an outperform rating in a research note on Monday, December 18th. Barclays raised shares of Splunk from an equal weight rating to an overweight rating and lifted their price objective for the company from $80.00 to $105.00 in a research note on Monday, January 8th. Royal Bank of Canada reissued an outperform rating and issued a $90.00 price objective (up from $76.00) on shares of Splunk in a research note on Friday, November 17th. Zacks Investment Research raised shares of Splunk from a hold rating to a buy rating and set a $100.00 price objective on the stock in a research note on Friday, January 19th. Finally, Drexel Hamilton reissued a buy rating and issued a $93.00 price objective on shares of Splunk in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirty have given a buy rating to the stock. Splunk has an average rating of Buy and an average price target of $97.53.
Shares of Splunk (NASDAQ SPLK) traded up $8.68 during trading hours on Friday, reaching $102.32. 6,681,912 shares of the company were exchanged, compared to its average volume of 1,675,621. The company has a market capitalization of $13,246.17, a PE ratio of -54.72 and a beta of 1.95. Splunk has a fifty-two week low of $54.17 and a fifty-two week high of $102.61.
In other news, insider Douglas Merritt sold 10,126 shares of Splunk stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $80.05, for a total transaction of $810,586.30. Following the transaction, the insider now owns 189,079 shares in the company, valued at $15,135,773.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction on Monday, December 11th. The stock was sold at an average price of $81.29, for a total transaction of $711,287.50. Following the transaction, the director now owns 207,239 shares in the company, valued at approximately $16,846,458.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,720 shares of company stock worth $2,477,118. 1.43% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC acquired a new position in Splunk in the fourth quarter valued at $102,000. James Hambro & Partners acquired a new position in Splunk in the fourth quarter valued at $124,000. Patten Group Inc. lifted its holdings in Splunk by 1,048.8% in the third quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after buying an additional 22,592 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Splunk in the third quarter valued at $201,000. Finally, MANA Advisors LLC acquired a new position in Splunk in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
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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.
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