Splunk (NASDAQ:SPLK) Receives New Coverage from Analysts at StockNews.com
Equities research analysts at StockNews.com initiated coverage on shares of Splunk (NASDAQ:SPLK – Get Free Report) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the software company’s stock.
Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of Splunk from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 21st. KeyCorp boosted their price target on shares of Splunk from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Needham & Company LLC lowered shares of Splunk from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Truist Financial lowered shares of Splunk from a “buy” rating to a “hold” rating and set a $157.00 price target on the stock. in a report on Wednesday, November 29th. Finally, Citigroup boosted their price target on shares of Splunk from $117.00 to $125.00 and gave the company a “neutral” rating in a report on Tuesday, September 19th. Twenty-five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $134.04.
Get Our Latest Analysis on Splunk
Splunk Price Performance
NASDAQ:SPLK opened at $150.97 on Tuesday. The stock has a market cap of $25.44 billion, a P/E ratio of 359.45, a PEG ratio of 12.43 and a beta of 1.05. Splunk has a one year low of $81.11 and a one year high of $152.00. The company has a fifty day moving average price of $148.31 and a 200 day moving average price of $122.21. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69.
Insider Buying and Selling at Splunk
In other Splunk news, SVP Scott Morgan sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $151.10, for a total transaction of $604,400.00. Following the transaction, the senior vice president now directly owns 105,535 shares in the company, valued at approximately $15,946,338.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Christian Smith sold 1,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $146.27, for a total value of $219,405.00. Following the sale, the senior vice president now directly owns 104,548 shares in the company, valued at approximately $15,292,235.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Morgan sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $151.10, for a total transaction of $604,400.00. Following the completion of the sale, the senior vice president now owns 105,535 shares in the company, valued at $15,946,338.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,100 shares of company stock worth $3,288,473. Company insiders own 0.17% of the company’s stock.
Institutional Trading of Splunk
A number of hedge funds have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Splunk by 104,016.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,487,055 shares of the software company’s stock valued at $2,173,472,000 after acquiring an additional 20,467,378 shares during the period. Pictet Asset Management SA raised its holdings in Splunk by 37.4% during the 1st quarter. Pictet Asset Management SA now owns 6,010,196 shares of the software company’s stock worth $576,258,000 after buying an additional 1,635,239 shares during the period. Clearbridge Investments LLC raised its holdings in Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock worth $855,038,000 after buying an additional 628,288 shares during the period. Starboard Value LP raised its holdings in Splunk by 145.5% during the 1st quarter. Starboard Value LP now owns 4,583,000 shares of the software company’s stock worth $439,418,000 after buying an additional 2,716,120 shares during the period. Finally, Legal & General Group Plc raised its holdings in Splunk by 8.0% during the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock worth $198,246,000 after buying an additional 170,233 shares during the period. 87.56% of the stock is currently owned by institutional investors and hedge funds.
About Splunk (Get Free Report)
Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization’s digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Splunk, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Splunk wasn’t on the list.
While Splunk currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.
Original: MarketBeat News Feed: Splunk (NASDAQ:SPLK) Receives New Coverage from Analysts at StockNews.com