Splunk Inc. (NASDAQ:SPLK) gapped up prior to trading on Thursday . The stock had previously closed at $53.90, but opened at $54.00. Splunk shares last traded at $54.97, with a volume of 517,732 shares changing hands.

A number of equities research analysts have recently weighed in on SPLK shares. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Splunk in a research note on Wednesday, May 25th. Stifel Nicolaus raised their price target on shares of Splunk from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, March 22nd. Citigroup Inc. restated a “buy” rating and issued a $62.00 price target (up from $53.00) on shares of Splunk in a research note on Friday, May 27th. Vetr downgraded shares of Splunk from a “buy” rating to a “hold” rating and set a $50.67 price target on the stock. in a research note on Tuesday, March 29th. Finally, Drexel Hamilton restated a “buy” rating and issued a $80.00 price target on shares of Splunk in a research note on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty have given a buy rating to the company’s stock. Splunk has a consensus rating of “Buy” and a consensus price target of $66.26.

The company’s market cap is $7.29 billion. The firm’s 50 day moving average is $56.23 and its 200 day moving average is $49.61.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, May 26th. The software company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $186 million for the quarter, compared to analysts’ expectations of $174.12 million. During the same period last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was up 48.0% on a year-over-year basis. On average, equities analysts predict that Splunk Inc. will post $0.27 EPS for the current year.

In related news, CMO Steven R. Sommer sold 4,303 shares of the stock in a transaction on Friday, April 15th. The stock was sold at an average price of $49.41, for a total transaction of $212,611.23. Following the sale, the chief marketing officer now directly owns 242,377 shares of the company’s stock, valued at $11,975,847.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $56.70, for a total value of $7,300,125.00. Following the sale, the director now directly owns 634,176 shares in the company, valued at $35,957,779.20. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in SPLK. Dimensional Fund Advisors LP boosted its position in shares of Splunk by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 101,239 shares of the software company’s stock valued at $5,954,000 after buying an additional 5,875 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Splunk by 332.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 28,632 shares of the software company’s stock valued at $1,684,000 after buying an additional 22,007 shares during the last quarter. I.G. Investment Management LTD. boosted its position in shares of Splunk by 39.9% in the fourth quarter. I.G. Investment Management LTD. now owns 39,140 shares of the software company’s stock valued at $2,302,000 after buying an additional 11,160 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Splunk by 8.7% in the fourth quarter. Advisors Asset Management Inc. now owns 20,027 shares of the software company’s stock valued at $1,178,000 after buying an additional 1,598 shares during the last quarter. Finally, Eaton Vance Management boosted its position in shares of Splunk by 1,809.6% in the fourth quarter. Eaton Vance Management now owns 105,526 shares of the software company’s stock valued at $6,206,000 after buying an additional 100,000 shares during the last quarter.

Splunk Inc is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The Company’s products allow users to collect, index, search, explore, monitor and analyze data regardless of format or source. The Company’s products address diverse data sets referred to as big data and are specifically tailored for machine-generated data.

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