Does Splunk Inc. (SPLK) Have More Gas After Touching 52-Week High?

June 13, 2018 - By Vivian Park

Splunk Inc. (NASDAQ:SPLK) Logo

Investors sentiment increased to 1.74 in Q1 2018. Its up 0.36, from 1.38 in 2017Q4. It is positive, as 20 investors sold Splunk Inc. shares while 110 reduced holdings. 98 funds opened positions while 128 raised stakes. 131.07 million shares or 5.60% less from 138.84 million shares in 2017Q4 were reported.
Barclays Public Ltd Company stated it has 0% of its portfolio in Splunk Inc. (NASDAQ:SPLK). Avalon Global Asset Mgmt reported 88,420 shares. Citigroup stated it has 0.01% in Splunk Inc. (NASDAQ:SPLK). Blackrock, New York-based fund reported 7.78 million shares. State Of Wisconsin Investment Board reported 150,368 shares. 287,537 were reported by Sei Invs Communications. Numerixs Invest Tech owns 11,800 shares. Envestnet Asset Incorporated, Illinois-based fund reported 12,712 shares. Savings Bank Of America Corporation De reported 2.53 million shares or 0.04% of all its holdings. Plante Moran Fin Advisors Limited Liability accumulated 464 shares or 0.02% of the stock. Artisan Ltd Partnership reported 39,216 shares. Us Bankshares De has invested 0.06% in Splunk Inc. (NASDAQ:SPLK). 2.54M were reported by State Street. Cap Fincl Advisers Lc reported 2,276 shares. Symmetry Peak Llc reported 16,500 shares.

Since December 13, 2017, it had 0 insider buys, and 9 insider sales for $15.71 million activity. CONTE DAVID F also sold $564,563 worth of Splunk Inc. (NASDAQ:SPLK) on Wednesday, December 13. On Tuesday, March 13 Merritt Douglas sold $3.03M worth of Splunk Inc. (NASDAQ:SPLK) or 28,513 shares. STEIN LEONARD R also sold $833,101 worth of Splunk Inc. (NASDAQ:SPLK) shares. 21,084 Splunk Inc. (NASDAQ:SPLK) shares with value of $2.05M were sold by St. Ledger Susan. 7,500 Splunk Inc. (NASDAQ:SPLK) shares with value of $598,350 were sold by Campione Richard. $941,503 worth of Splunk Inc. (NASDAQ:SPLK) was sold by SULLIVAN GODFREY on Monday, March 12.

The stock of Splunk Inc. (NASDAQ:SPLK) hit a new 52-week high and has $127.08 target or 8.00 % above today’s $117.67 share price. The 9 months bullish chart indicates low risk for the $17.06 billion company. The 1-year high was reported on Jun, 13 by Barchart.com. If the $127.08 price target is reached, the company will be worth $1.37 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.62% or $0.73 during the last trading session, reaching $117.67. About 1.30 million shares traded. Splunk Inc. (NASDAQ:SPLK) has risen 64.35% since June 13, 2017 and is uptrending. It has outperformed by 51.78% the S&P500.

Analysts await Splunk Inc. (NASDAQ:SPLK) to report earnings on August, 23. They expect $-0.54 EPS, up 6.90 % or $0.04 from last year’s $-0.58 per share. After $-0.77 actual EPS reported by Splunk Inc. for the previous quarter, Wall Street now forecasts -29.87 % EPS growth.

Splunk Inc. (NASDAQ:SPLK) Ratings Coverage

Among 30 analysts covering Splunk Inc (NASDAQ:SPLK), 28 have Buy rating, 0 Sell and 2 Hold. Therefore 93% are positive. Splunk Inc had 51 analyst reports since December 18, 2017 according to SRatingsIntel. JMP Securities maintained the stock with “Market Outperform” rating in Friday, May 25 report. MUFG Securities Americas Inc maintained it with “Buy” rating and $107.0 target in Friday, March 2 report. Credit Suisse maintained the stock with “Outperform” rating in Friday, March 2 report. The firm has “Buy” rating by Jefferies given on Friday, March 2. The rating was maintained by KeyBanc Capital Markets with “Buy” on Friday, March 2. Credit Suisse maintained the shares of SPLK in report on Thursday, April 12 with “Outperform” rating. Wedbush upgraded the shares of SPLK in report on Friday, April 27 to “Outperform” rating. The firm earned “Buy” rating on Friday, March 2 by Bank of America. Argus Research upgraded the stock to “Buy” rating in Thursday, March 8 report. The rating was maintained by Rosenblatt on Friday, March 2 with “Buy”.

More notable recent Splunk Inc. (NASDAQ:SPLK) news were published by: Themiddlemarket.com which released: “M&A daily wrap: Rockwell, PTC, L Catterton, Splunk, Heineken, Knauf” on June 11, 2018, also Seekingalpha.com with their article: “Analysts raise Splunk targets after earnings” published on May 25, 2018, Seekingalpha.com published: “Splunk: Running On Fumes” on May 26, 2018. More interesting news about Splunk Inc. (NASDAQ:SPLK) were released by: Benzinga.com and their article: “Splunk’s Beat-And-Raise Q1: The Sell-Side Reacts” published on May 26, 2018 as well as Streetinsider.com‘s news article titled: “Splunk (SPLK) to Acquire VictorOps for $120 Million” with publication date: June 11, 2018.

Splunk Inc. provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company has market cap of $17.06 billion. The company??s products enable users to collect, index, search, explore, monitor, and analyze data regardless of format or source. It currently has negative earnings. It offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud service.

Splunk Inc. (NASDAQ:SPLK) Institutional Positions Chart

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