Splunk (SPLK) Given New $123.00 Price Target at Needham & Company LLC
Splunk (NASDAQ:SPLK) had its target price lifted by Needham & Company LLC from $115.00 to $123.00 in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the software company’s stock.
Several other equities research analysts have also recently weighed in on SPLK. Royal Bank of Canada reaffirmed a buy rating and issued a $76.00 price target on shares of Splunk in a research report on Tuesday, November 7th. Piper Jaffray Companies reiterated a buy rating and set a $80.00 price objective on shares of Splunk in a research note on Wednesday, November 15th. Drexel Hamilton reiterated a buy rating and set a $93.00 price objective on shares of Splunk in a research note on Thursday, November 16th. Jefferies Group reiterated a buy rating and set a $88.00 price objective on shares of Splunk in a research note on Friday, November 17th. Finally, Wells Fargo & Co reiterated a buy rating and set a $95.00 price objective on shares of Splunk in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirty have given a buy rating to the stock. Splunk has a consensus rating of Buy and a consensus price target of $97.53.
Shares of Splunk (SPLK) traded down $0.70 on Friday, hitting $101.62. 984,168 shares of the stock traded hands, compared to its average volume of 1,647,707. Splunk has a 52-week low of $54.17 and a 52-week high of $102.61. The stock has a market cap of $14,470.00, a PE ratio of -54.01 and a beta of 1.95.
In other Splunk news, Director Godfrey Sullivan sold 8,750 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $81.29, for a total transaction of $711,287.50. Following the transaction, the director now owns 207,239 shares in the company, valued at approximately $16,846,458.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David F. Conte sold 6,993 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $80.73, for a total transaction of $564,544.89. Following the transaction, the chief financial officer now 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 90 days. 1.43% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation purchased a new stake in shares of Splunk in the 3rd quarter valued at $591,000. Atria Investments LLC purchased a new stake in shares of Splunk in the 4th quarter valued at $270,000. Motley Fool Asset Management LLC boosted its holdings in shares of Splunk by 8.4% in the 3rd quarter. Motley Fool Asset Management LLC now owns 167,500 shares of the software company’s stock valued at $11,127,000 after acquiring an additional 13,000 shares during the last quarter. Spence Asset Management purchased a new stake in shares of Splunk in the 4th quarter valued at $4,560,000. Finally, Advisor Group Inc. boosted its holdings in shares of Splunk by 51.4% in the 3rd quarter. Advisor Group Inc. now owns 6,126 shares of the software company’s stock valued at $406,000 after acquiring an additional 2,080 shares during the last quarter.
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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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