Todays Report: Today, Splunk Inc. (SPLK) PT Set at $83.00 by DA Davidson

Today, Splunk Inc. (SPLK) PT Set at $83.00 by DA Davidson

Splunk Inc. (NASDAQ:SPLK) received a $83.00 target price from analysts at DA Davidson in a research note issued on Thursday. The firm presently has a “buy” rating on the software company’s stock. DA Davidson’s price objective would suggest a potential upside of 42.29% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective (up from $60.00) on shares of Splunk in a report on Friday, August 19th. Vetr upgraded shares of Splunk from a “buy” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Splunk from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, October 27th. Summit Redstone set a $72.00 price objective on shares of Splunk and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $85.00 price objective on shares of Splunk in a report on Tuesday, August 23rd. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.77.

Shares of Splunk (NASDAQ:SPLK) traded up 1.18% during trading on Thursday, reaching $58.33. 568,032 shares of the company traded hands. The stock’s market capitalization is $7.85 billion. Splunk has a 12 month low of $29.85 and a 12 month high of $66.90. The company has a 50-day moving average of $59.12 and a 200-day moving average of $58.41.

In other Splunk news, Director Godfrey Sullivan sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $59.48, for a total transaction of $2,379,200.00. Following the completion of the sale, the director now owns 291,676 shares of the company’s stock, valued at approximately $17,348,888.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leonard R. Stein sold 3,435 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $58.64, for a total transaction of $201,428.40. Following the sale, the senior vice president now directly owns 116,437 shares of the company’s stock, valued at approximately $6,827,865.68. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SPLK. Renaissance Technologies LLC purchased a new stake in Splunk during the first quarter worth $11,058,000. Nuveen Asset Management LLC increased its stake 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. Legal & General Group Plc increased its stake 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. BlueMountain Capital Management LLC increased its stake in Splunk by 273.1% in the first quarter. BlueMountain Capital Management LLC now owns 8,351 shares of the software company’s stock worth $409,000 after buying an additional 6,113 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Splunk by 169.2% in the second quarter. BNP Paribas Arbitrage SA now owns 34,220 shares of the software company’s stock worth $1,854,000 after buying an additional 21,506 shares in the last quarter. 98.38% of the stock is owned by institutional investors and hedge funds.

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