Today: Today, Splunk Inc. (SPLK) Given a $83.00 Price Target by DA Davidson Analysts

Today, Splunk Inc. (SPLK) Given a $83.00 Price Target by DA Davidson Analysts

Splunk Inc. (NASDAQ:SPLK) has been assigned a $83.00 price objective by stock analysts at DA Davidson in a report released on Thursday. The brokerage presently has a “buy” rating on the software company’s stock. DA Davidson’s price objective indicates a potential upside of 42.29% from the company’s previous close.

A number of other research firms have also weighed in on SPLK. Barclays PLC upped their price target on shares of Splunk from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, August 26th. Stifel Nicolaus lowered shares of Splunk from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. They noted that the move was a valuation call. Morgan Stanley upped their price target on shares of Splunk from $58.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. Wedbush reiterated an “outperform” rating and issued a $72.00 price target (up from $70.00) on shares of Splunk in a research report on Sunday, August 28th. Finally, Vetr downgraded shares of Splunk from a “strong-buy” rating to a “buy” rating and set a $66.00 target price on the stock. in a report on Tuesday, October 4th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.77.

Splunk (NASDAQ:SPLK) traded up 1.18% during trading on Thursday, hitting $58.33. 568,032 shares of the company traded hands. The stock’s market capitalization is $7.85 billion. Splunk has a 52 week low of $29.85 and a 52 week high of $66.90. The company’s 50 day moving average is $59.12 and its 200-day moving average is $58.41.

In other Splunk news, Director Godfrey Sullivan sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $59.33, for a total transaction of $7,119,600.00. Following the completion of the transaction, the director now directly owns 291,676 shares of the company’s stock, valued at approximately $17,305,137.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leonard R. Stein sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $60.00, for a total transaction of $64,500.00. Following the transaction, the senior vice president now directly owns 115,262 shares of the company’s stock, valued at $6,915,720. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. raised its position in Splunk by 0.5% in the second quarter. Eagle Asset Management Inc. now owns 312,171 shares of the software company’s stock worth $16,913,000 after buying an additional 1,563 shares in the last quarter. RS Investment Management Co. LLC raised its position in Splunk by 35.5% in the second quarter. RS Investment Management Co. LLC now owns 49,280 shares of the software company’s stock worth $2,670,000 after buying an additional 12,900 shares in the last quarter. CG Asset Management LLC acquired a new position in Splunk during the second quarter worth about $2,131,000. Legal & General Group Plc raised its position in Splunk by 11.1% in the first quarter. Legal & General Group Plc now owns 478,424 shares of the software company’s stock worth $23,409,000 after buying an additional 47,816 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Splunk by 1,306.2% in the first quarter. Nuveen Asset Management LLC now owns 50,398 shares of the software company’s stock worth $2,466,000 after buying an additional 46,814 shares in the last quarter. 98.38% of the stock is owned by institutional investors.

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