Splunk Inc. (NASDAQ:SPLK) was up 17.9% on Friday following a stronger than expected earnings report. The company traded as high as $81.99 and last traded at $81.70. Approximately 13,218,925 shares traded hands during mid-day trading, an increase of 712% from the average daily volume of 1,627,646 shares. The stock had previously closed at $69.30.

The software company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Splunk had a negative return on equity of 75.81% and a negative net margin of 36.81%.

A number of equities research analysts recently weighed in on SPLK shares. Zacks Investment Research cut Splunk from a “buy” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $75.00 price objective on shares of Splunk in a research note on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $69.00 price objective (down from $71.00) on shares of Splunk in a research note on Friday, August 4th. Mizuho restated a “neutral” rating and set a $60.00 price objective on shares of Splunk in a research note on Tuesday, August 15th. Finally, Cowen and Company restated a “buy” rating on shares of Splunk in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $80.92.

In related news, Director Thomas M. Neustaetter sold 3,614 shares of Splunk stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $67.70, for a total transaction of $244,667.80. Following the transaction, the director now owns 12,871 shares in the company, valued at $871,366.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ledger Susan St. sold 10,316 shares of Splunk stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $723,873.72. Following the transaction, the insider now owns 253,102 shares in the company, valued at approximately $17,760,167.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,197 shares of company stock worth $40,200,725. Company insiders own 1.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Splunk by 5.1% during the second quarter. Vanguard Group Inc. now owns 11,347,936 shares of the software company’s stock worth $645,584,000 after buying an additional 546,338 shares in the last quarter. BlackRock Inc. lifted its position in Splunk by 2.1% during the second quarter. BlackRock Inc. now owns 7,075,105 shares of the software company’s stock worth $402,503,000 after buying an additional 143,138 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Splunk by 9.3% during the third quarter. JPMorgan Chase & Co. now owns 4,593,033 shares of the software company’s stock worth $308,053,000 after buying an additional 389,565 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Splunk by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 4,196,508 shares of the software company’s stock worth $278,773,000 after buying an additional 254,505 shares in the last quarter. Finally, Carmignac Gestion purchased a new position in Splunk during the third quarter worth approximately $198,193,000.

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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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