There has been some selling insider activity on Splunk Inc. (NASDAQ:SPLK) recently. Director Godfrey Sullivan let go of 4,236 shares at an average price of $61.86 on Wed the 7th. The Director now owns $50,367,649 of the stock as reported to the SEC. Sr VP David F. Conte disclosed the sale of 1,044 shares of (SPLK). The shares were purchased at an average price of $62.20. Conte now owns $12,935,423 of the stock per the Form 4 SEC filing.
Sr VP David F. Conte sold 300 shares at a price of $61.97 on June 1st. That brings Conte’s holdings to $12,952,288 per an SEC filing yesterday.
Splunk Inc. (Splunk), launched on April 11, 2006, is involved in the development and marketing of software solutions. The Business’s offerings enable users to collect, index, search, explore, monitor and analyze data. The Business’s offerings address diverse data sets that are referred to as big data and are specifically used for machine data. Machine data is produced by various software application and electronic devices in an organization and contains a definitive, time-stamped record of various activities, such as transactions, customer and user activities and security threats. The Business’s products help users in various roles, including information technology (IT), security and business professionals, to analyze their machine data and achieve real-time visibility into and intelligence about their organization’s operations. In addition, the Company offers user behavioral analytics to help detect, respond to and mitigate advanced, hidden and insider threats..
Here are some other firms who have updated their holdings. As of the end of the quarter Clearbridge Investments, LLC had bought a total of 40,229 shares growing its position 19.2%. The value of the company’s investment in Splunk Inc. went from $10,710,000 to $15,548,000 a change of $4,838,000 quarter to quarter. As of quarter end Columbia Partners L L C Investment Management had disposed of 5,373 shares trimming its holdings by 16.4%. The value of the total investment in Splunk Inc. increased from $1,680,000 to $1,711,000 a change of 1.8% quarter over quarter.
As of the end of the quarter Proficio Capital Partners LLC had acquired a total of 115 shares growing its stake by 359.4%. The value of the investment in SPLK increased from $2,000 to $10,000 increasing 400.0% for the reporting period. As of quarter end Fny Partners Fund Lp had disposed of 464 shares trimming its holdings by 92.8%. The value of the investment in Splunk Inc. went from $26,000 to $2,000 a change of 92.3% since the last quarter.
On October 14, 2016 Piper Jaffray began coverage of the stock by announcing an initial rating of “Overweight”. On October 12 Citigroup made no change to the company rating of “Neutral” but raised the price expectation to $63.00 from $56.00.
On October 4 the company was downgraded to “Neutral” from “Buy” in an announcement from Guggenheim Securities. Equity analyst Mizuho Securities starting coverage on SPLK giving it an initial rating of “Neutral” and setting a price target of $60.00.
Summit Redstone Partners initiated coverage on SPLK with a rating of “Buy” and establishing a price target of $72.00. On August 26 the company was rated “Hold” in a report from Stifel Nicolaus which is down from the previous “Buy” rating.
The company is so far trading down by -5.13 percent from yesterday’s close. Company chares are trading at $58.27 which is just a bit below the 50 day moving average which is $64.76 and which is just under the 200 day moving average of $60.28. The 50 day moving average was down $-6.49 or -10.03% and the 200 day average went down $-2.01 or -3.33%.
As of the last earnings report the EPS was $-2.62 and is estimated to be $0.52 for the current year with 137,785,000 shares outstanding. Next quarter’s EPS is forecasted at $0.15 with next year’s EPS anticipated to be $0.78.
Investors are feeling more bullish on Splunk Inc. recently as inferred by the change in short interest. The firm realized a fall in short interest of -7.92% as of May 15, 2017 from the last reporting period. Short interest decreased 945,769 over that timeframe. With short interest at 10,990,451 and short average daily volume at 957,003, the short-interest ratio is 11.5 and the percentage of shorted shares was 0.08% on May 15.