Insider Selling: Splunk Inc (SPLK) Director Sells $1,076,250.00 in Stock

Splunk Inc (NASDAQ:SPLK) Director Godfrey Sullivan sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $123.00, for a total transaction of $1,076,250.00. Following the transaction, the director now directly owns 182,155 shares of the company’s stock, valued at approximately $22,405,065. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of SPLK opened at $126.42 on Friday. The company has a market capitalization of $18.44 billion, a PE ratio of -79.51 and a beta of 2.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.84 and a quick ratio of 3.84. Splunk Inc has a fifty-two week low of $83.69 and a fifty-two week high of $143.70.

Institutional investors and hedge funds have recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in shares of Splunk in the 4th quarter worth approximately $315,000. Hartline Investment Corp purchased a new position in shares of Splunk in the third quarter worth $3,112,000. Sanoor Capital Management LP purchased a new position in shares of Splunk in the third quarter worth $18,729,000. Hsbc Holdings PLC increased its stake in shares of Splunk by 8.2% in the third quarter. Hsbc Holdings PLC now owns 928,970 shares of the software company’s stock worth $112,320,000 after buying an additional 70,791 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Splunk by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 18,100 shares of the software company’s stock worth $1,897,000 after buying an additional 348 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Several brokerages recently commented on SPLK. Zacks Investment Research raised shares of Splunk from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Thursday, December 6th. BidaskClub cut shares of Splunk from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group lifted their target price on shares of Splunk from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. BMO Capital Markets lifted their target price on shares of Splunk from $132.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lifted their target price on shares of Splunk to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $141.94.

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Splunk Company Profile

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

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Insider Buying and Selling by Quarter for Splunk (NASDAQ:SPLK)

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