Splunk Sees Unusually Large Options Volume (NASDAQ:SPLK)

Splunk Inc. (NASDAQ:SPLK – Get Rating) was the recipient of some unusual options trading on Thursday. Traders purchased 14,400 call options on the company. This is an increase of approximately 60% compared to the average daily volume of 9,023 call options.

Insider Buying and Selling at Splunk

In other Splunk news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total transaction of $202,080.00. Following the completion of the sale, the senior vice president now owns 115,907 shares of the company’s stock, valued at $11,711,243.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Scott Morgan sold 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.04, for a total value of $202,080.00. Following the transaction, the senior vice president now owns 115,907 shares in the company, valued at $11,711,243.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elisa Steele sold 3,050 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $105.00, for a total value of $320,250.00. Following the completion of the transaction, the director now owns 14,481 shares in the company, valued at approximately $1,520,505. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Splunk

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in Splunk by 4.2% in the 4th quarter. Arizona State Retirement System now owns 46,053 shares of the software company’s stock valued at $3,965,000 after purchasing an additional 1,875 shares during the last quarter. Seven Eight Capital LP bought a new position in Splunk in the 3rd quarter valued at approximately $688,000. Future Fund LLC lifted its stake in Splunk by 6.2% in the 3rd quarter. Future Fund LLC now owns 3,358 shares of the software company’s stock valued at $253,000 after purchasing an additional 195 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Splunk in the 3rd quarter valued at approximately $444,000. Finally, Biltmore Family Office LLC bought a new position in Splunk in the 4th quarter valued at approximately $391,000. Institutional investors own 85.71% of the company’s stock.

Splunk Trading Down 1.0 %

Shares of Splunk stock opened at $95.70 on Friday. The company has a 50 day moving average of $90.47 and a 200-day moving average of $90.70. Splunk has a 1-year low of $65.00 and a 1-year high of $116.84. The company has a market cap of $15.84 billion, a PE ratio of -48.83 and a beta of 1.29.

Splunk (NASDAQ:SPLK – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The software company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $1.41. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.07 billion. Research analysts forecast that Splunk will post -0.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPLK shares. Needham & Company LLC increased their price objective on Splunk from $120.00 to $125.00 in a report on Thursday. BTIG Research increased their price objective on Splunk from $121.00 to $128.00 in a report on Thursday. KeyCorp increased their price objective on Splunk from $130.00 to $135.00 in a report on Thursday. Piper Sandler increased their price target on Splunk from $118.00 to $123.00 in a research note on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Splunk in a research note on Tuesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Splunk currently has an average rating of “Moderate Buy” and a consensus price target of $118.19.

Splunk Company Profile

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Splunk, Inc engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries.