Deutsche Bank Boosts Splunk (SPLK) Price Target to $115.00
Splunk (NASDAQ:SPLK) had its price target hoisted by Deutsche Bank to $115.00 in a research note issued to investors on Friday. Deutsche Bank currently has a buy rating on the software company’s stock.
SPLK has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a buy rating and set a $76.00 target price on shares of Splunk in a report on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a buy rating and set a $80.00 target price on shares of Splunk in a report on Wednesday, November 15th. Zacks Investment Research downgraded Splunk from a buy rating to a hold rating in a report on Friday, January 12th. Robert W. Baird increased their target price on Splunk from $85.00 to $90.00 and gave the stock an outperform rating in a report on Monday, December 18th. Finally, Barclays raised Splunk from an equal weight rating to an overweight rating and raised their price target for the stock from $80.00 to $105.00 in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirty have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $97.53.
Splunk (NASDAQ SPLK) traded up $8.68 during trading hours on Friday, reaching $102.32. The company’s stock had a trading volume of 6,681,912 shares, compared to its average volume of 1,675,621. Splunk has a 52 week low of $54.17 and a 52 week high of $102.61. The company has a market cap of $13,246.17, a P/E ratio of -54.72 and a beta of 1.95.
In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of Splunk stock in a transaction on Monday, December 11th. The stock was sold at an average price of $81.29, for a total transaction of $711,287.50. Following the sale, the director now owns 207,239 shares of the company’s stock, valued at approximately $16,846,458.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David F. Conte sold 6,993 shares of Splunk stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $80.73, for a total value of $564,544.89. Following the sale, the chief financial officer now directly owns 110,364 shares in the company, valued at approximately $8,909,685.72. The disclosure for this sale can be found here. Insiders have sold a total of 30,720 shares of company stock worth $2,477,118 in the last ninety days. 1.43% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in shares of Splunk during the 4th quarter valued at $102,000. James Hambro & Partners acquired a new position in shares of Splunk during the 4th quarter valued at $124,000. Patten Group Inc. increased its position in shares of Splunk by 1,048.8% during the 3rd quarter. Patten Group Inc. now owns 24,746 shares of the software company’s stock valued at $143,000 after purchasing an additional 22,592 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Splunk during the 3rd quarter valued at $201,000. Finally, MANA Advisors LLC acquired a new position in shares of Splunk during the 4th quarter valued at $208,000. Institutional investors own 98.50% of the company’s stock.
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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