How Guggenheim Currently Rates Splunk (NASDAQ:SPLK)
Guggenheim began its coverage on Splunk (NASDAQ:SPLK), today Tuesday morning. The financial firm finds the stock of Splunk (NASDAQ:SPLK) attractive and has given it Buy rating.
From a total of 32 analysts covering Splunk Inc (NASDAQ:SPLK) stock, 29 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $90 while the lowest target price is $50. The mean of all analyst targets is $79.44 with a 45.53% above today’s ($53.17) stock price. Splunk Inc was the topic of 20 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on December 11 with “Neutral” rating. Summit Research downgraded shares to “Hold” rating and $50 target share price in a report from an August 24. Canaccord Genuity maintained SPLK stock in a recent report from September 23 with “Buy” rating. Finally, Cantor Fitzgerald maintained the stock with “Buy” rating in a report issued on an August 31.
Approximately 670,960 shares of stock traded hands. Splunk Inc (NASDAQ:SPLK) has declined 22.57% since May 12, 2015 and is downtrending. It has underperformed by 18.89% the S&P500.
The overall sentiment of institutions has decreased to 1.14 in Q2 2015. Its down 0.22, from 1.36 in 2015Q2. The ratio is negative, as 52 institutions have sold all the shares of Splunk Inc that they owned while 89 funds have taken shares off the table. 38 funds have purchased shares for the first time while 123 added to their positions. These institutions now hold 114.29 million shares or 3.77% less than the 118.77 million shares they owned in 2015Q2.
The Fund Afton Capital Management Llc currently is holding shares equating to 4.09% of its total portfolio in Splunk Inc representing a total of 25,000 shares. Another fund,Criterion Capital Management Llc, is holding a total of 1.68 million shares equating to 3.15% of their holdings. Additionally, Westend Capital Management Llc has a 35,320 share stake in Splunk Inc which represents 2.59% of their total portfolio. The Fund, Bennett Lawrence Management L L C Ny, based out of New York, has also built up a stake in the stock, which represents a total of 2.42% of their total portfolio. Finally Avalon Global Asset Management Llc, a fund which is based in the state of California reported a total holdings of 55,300 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 3, 2015, shareholders of Splunk Inc have witnessed 0 insider purchases, and a total of 17 insider sales equating to a net activity of approximately $21.43 million . Schroeder Guido sold 10,000 shares worth approximately $577,324. Stein Leonard R sold 2,774 shares worth approximately $152,952. Sommer Steven R sold 4,090 shares worth approximately $241,065. Conte David F sold 589 shares worth approximately $41,177. The company insider Sullivan Godfrey sold 83,348 shares worth $5.74M.
Splunk Inc. is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The company has a market cap of $6.67 billion. The Company’s products allow users to collect, index, search, explore, monitor and analyze data regardless of format or source. It currently has negative earnings. The Company’s products address diverse data sets referred to as big data and are specifically tailored for machine-generated data.
According to Zacks Investment Research, “Splunk Inc. provides a software platform, which collects and indexes data and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including IT and business professionals. Splunk Inc. is based in San Francisco, California.”