Short Interest in Splunk Inc. (NASDAQ: SPLK) Declines 20.1%
Splunk Inc. (NASDAQ: SPLK) saw a significant drop in short-term interest in September. As of September 15, there was short interest totaling 5,870,000 shares, a decrease of 20.1% from the total of 7,350,000 shares as of August 31. Currently 3.7% of the company’s shares are sold short. Based on an average daily trade volume of 1,810,000 shares, the day-to-coverage ratio is currently 3.2 days.
Several analysts recently weighed on SPLK stocks. Barclays raised its price target for Splunk shares from $ 170.00 to $ 184.00 and rated the company “overweight” in a report released on Thursday, August 26. Morgan Stanley raised its price target for Splunk shares from $ 150.00 to $ 160.00 and gave the company an “equal weight” rating in a report released Thursday, August 26. Royal Bank of Canada increased its target price on Splunk shares from $ 200.00 to $ 210.00 and gave the company an “outperformance” rating in a report released Thursday, August 26. Zacks Investment Research downgraded Splunk’s stock from a “hold” rating to a “sell” rating and set a target price of $ 162.00 for the stock. in a report on Tuesday, August 31. Finally, Robert W. Baird increased his target price on Splunk shares from $ 150.00 to $ 185.00 and gave the company an “outperformance” rating in a report released Thursday, August 26. One investment analyst rated the stock with a sell rating, twelve assigned a conservation rating and seventeen assigned a buy rating to the company. According to MarketBeat data, the stock has a consensus rating of “Buy” and an average price target of $ 175.10.
NASDAQ SPLK shares traded up $ 3.88 at noon on Wednesday, reaching $ 146.46. 1,273,548 shares of the company were traded in the hands, compared to its average volume of 2,187,551. Splunk has a one-year low at $ 110.28 and a one-year high at $ 222.19 . The stock has a market cap of $ 23.66 billion, a price-to-earnings ratio of -19.65 and a beta of 1.22. The company has a debt to equity ratio of 1.87, a rapid ratio of 2.16 and a current ratio of 2.16. The company has a fifty-day moving average of $ 148.14 and a 200-day moving average of $ 136.62.
Splunk (NASDAQ: SPLK) last released its quarterly results on Tuesday, August 24. The software company announced ($ 0.62) EPS for the quarter, beating Thomson Reuters consensus estimate ($ 0.69) by $ 0.07. Splunk had a negative net margin of 49.60% and a negative return on equity of 55.19%. The company posted revenue of $ 605.74 million in the quarter, compared to analysts’ estimates of $ 563.27 million. In the same quarter of the previous year, the company achieved EPS ($ 0.33). The company’s revenue for the quarter increased 23.2% from the same quarter last year. On average, stock analysts predict that Splunk will post earnings per share of -5.71 for the current year.
Separately, CAO Timothy Emanuelson sold 362 Splunk shares in a trade on Friday, July 16. The shares were sold for an average price of $ 134.68, for a total value of $ 48,754.16. As a result of the transaction, the chief accounting officer now directly owns 22,465 shares of the company, valued at $ 3,025,586.20. The sale was disclosed in a legal file with the SEC, accessible through this link. Additionally, director Graham Smith sold 500 Splunk shares in a trade on Thursday, August 26. The shares were sold at an average price of $ 160.00, for a total trade of $ 80,000.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 31,639 shares of the company valued at $ 4,793,931. 0.27% of the shares are held by insiders.
A number of institutional investors have recently increased or reduced their holdings in SPLK. Principal Financial Group Inc. increased its stake in Splunk by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 19,572 shares of the software company valued at $ 2,652,000 after acquiring 163 additional shares in the last quarter. Synovus Financial Corp increased its stake in Splunk by 49.5% in the 1st quarter. Synovus Financial Corp now owns 2,096 shares of the software company valued at $ 285,000 after acquiring an additional 694 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Splunk by 23.0% in the 1st quarter. Teacher Retirement System of Texas now owns 17,720 shares of the software company valued at $ 2,401,000 after purchasing an additional 3,317 shares during the period. Marcum Wealth LLC purchased a new position in Splunk in Q1 valued at approximately $ 220,000. Finally, Aigen Investment Management LP purchased a new position in Splunk in Q1 valued at approximately $ 17,276,000. 83.42% of the capital is held by institutional investors.
Splunk Company Profile
Splunk, Inc is engaged in the development and marketing of software solutions. Its products include Splunk cloud, Splunk light, and Splunk Enterprise. It also offers solutions for IT operations, security, Internet of Things, application analysis, business analysis and industries. The company was founded by Erik M.
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