Splunk Inc. (NASDAQ:SPLK) shares rose 3.7% during mid-day 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 trading 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 target price on the stock in a research note on Monday, May 9th. BMO Capital Markets reissued a “buy” rating on shares of Splunk in a research note on Thursday, April 14th. Drexel Hamilton reissued a “buy” rating and set a $80.00 price objective on shares of Splunk in a research note on Tuesday, May 24th. Morgan Stanley reissued a “buy” rating on shares of Splunk in a research note on Thursday, May 19th. Finally, Citigroup Inc. reissued a “buy” rating and set a $62.00 price objective (up previously from $53.00) on shares of Splunk in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $66.17.

The company has a 50-day moving average of $57.45 and a 200 day moving average of $50.07. The firm’s market capitalization is $8.31 billion.

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

In related news, CMO Steven R. Sommer sold 465 shares of the firm’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $58.51, for a total value of $27,207.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Godfrey Sullivan sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $50.05, for a total transaction of $6,006,000.00. Following the completion of the sale, the director now owns 724,940 shares of the company’s stock, valued at approximately $36,283,247. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in SPLK. Advisors Asset Management Inc. increased its stake 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 worth $1,178,000 after buying an additional 1,598 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Splunk by 5.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 39,160 shares of the software company’s stock worth $2,303,000 after buying an additional 2,150 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $5,954,000 after buying an additional 5,875 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Splunk by 22.8% in the fourth quarter. TD Asset Management Inc. now owns 32,800 shares of the software company’s stock worth $1,929,000 after buying an additional 6,100 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Splunk by 4.6% in the fourth quarter. KBC Group NV now owns 147,770 shares of the software company’s stock worth $8,690,000 after buying an additional 6,441 shares during 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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