Short Interest in Splunk Inc (SPLK) Grows By 75.8%

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Splunk Inc (NASDAQ:SPLK) was the target of a significant growth in short interest during the month of September. As of September 28th, there was short interest totalling 4,360,908 shares, a growth of 75.8% from the September 14th total of 2,480,514 shares. Based on an average daily volume of 2,401,632 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.0% of the shares of the company are short sold.

Several research firms have recently commented on SPLK. Zacks Investment Research cut Splunk from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Credit Suisse Group upped their price target on Splunk from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Rosenblatt Securities restated a “buy” rating and set a $135.00 price target on shares of Splunk in a research note on Sunday, August 26th. Piper Jaffray Companies upped their price target on Splunk to $135.00 and gave the stock an “overweight” rating in a research note on Friday, August 24th. Finally, Barclays upped their price target on Splunk from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. Splunk currently has an average rating of “Buy” and a consensus price target of $122.77.

In other news, CFO David F. Conte sold 15,519 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.29, for a total transaction of $1,944,375.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy Tully sold 19,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.46, for a total value of $2,396,286.00. The disclosure for this sale can be found here. Insiders have sold 69,032 shares of company stock valued at $8,640,864 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in SPLK. Victory Capital Management Inc. increased its position in shares of Splunk by 1,838.0% in the second quarter. Victory Capital Management Inc. now owns 485,866 shares of the software company’s stock valued at $48,154,000 after buying an additional 460,796 shares in the last quarter. Millennium Management LLC increased its position in shares of Splunk by 100.8% in the first quarter. Millennium Management LLC now owns 725,772 shares of the software company’s stock valued at $71,409,000 after buying an additional 364,320 shares in the last quarter. First Trust Advisors LP increased its position in shares of Splunk by 46.6% in the second quarter. First Trust Advisors LP now owns 984,523 shares of the software company’s stock valued at $97,576,000 after buying an additional 312,893 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in shares of Splunk in the second quarter valued at $29,605,000. Finally, BlackRock Inc. increased its position in shares of Splunk by 3.8% in the second quarter. BlackRock Inc. now owns 8,074,220 shares of the software company’s stock valued at $800,235,000 after buying an additional 298,117 shares in the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.

NASDAQ:SPLK opened at $103.54 on Friday. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of -79.04 and a beta of 2.07. Splunk has a 1 year low of $62.39 and a 1 year high of $130.00.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Thursday, August 23rd. The software company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Splunk had a negative return on equity of 26.44% and a negative net margin of 20.55%. The firm had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $358.46 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Splunk’s revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts expect that Splunk will post -1.15 EPS for the current fiscal year.

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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