Splunk Inc. (NASDAQ:SPLK) rose 3.7% during trading on Thursday . The stock traded as high as $61.80 and last traded at $61.72, with a volume of 1,231,458 shares changing hands. The stock had previously closed at $59.50.

SPLK has been the topic of several recent research reports. Vetr raised shares of Splunk from a “hold” rating to a “buy” rating and set a $50.26 price target on the stock in a report on Monday, May 9th. BMO Capital Markets reaffirmed a “buy” rating on shares of Splunk in a report on Thursday, April 14th. Drexel Hamilton reaffirmed a “buy” rating and issued a $80.00 price target on shares of Splunk in a report on Tuesday, May 24th. Morgan Stanley reaffirmed a “buy” rating on shares of Splunk in a report on Thursday, May 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 price target (up from $53.00) on shares of Splunk in a report on Friday, May 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have assigned a buy rating to the company. Splunk presently has an average rating of “Buy” and an average price target of $66.17.

The company’s market cap is $8.25 billion. The company has a 50 day moving average of $57.21 and a 200 day moving average of $49.90.

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

In related news, SVP Leonard R. Stein sold 7,997 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $60.00, for a total value of $479,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 128,750 shares of the stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $56.70, for a total transaction of $7,300,125.00. Following the completion of the transaction, the director now owns 634,176 shares of the company’s stock, valued at approximately $35,957,779.20. The disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in the stock. Garelick Capital Partners LP bought a new position in shares of Splunk during the fourth quarter worth about $4,318,000. UBS Oconnor LLC bought a new position in shares of Splunk during the fourth quarter worth about $2,940,000. Schroder Investment Management Group raised its position in shares of Splunk by 14.4% in the fourth quarter. Schroder Investment Management Group now owns 69,118 shares of the software company’s stock worth $4,065,000 after buying an additional 8,726 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. bought a new position in shares of Splunk during the fourth quarter worth about $1,088,000. Finally, Wells Fargo & Company MN raised its position in shares of Splunk by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,573,350 shares of the software company’s stock worth $445,389,000 after buying an additional 965,815 shares in the last quarter.

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

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