JMP Securities set a $70.00 price target on Splunk Inc. (NASDAQ:SPLK) in a research note published on Monday morning. The brokerage currently has a buy rating on the software company’s stock.

Other equities analysts also recently issued reports about the stock. Vetr raised shares of Splunk from a sell rating to a buy rating and set a $67.00 price objective on the stock in a report on Tuesday, September 6th. Summit Redstone reaffirmed a buy rating and set a $72.00 price objective on shares of Splunk in a report on Tuesday, September 6th. Drexel Hamilton reaffirmed a buy rating and set a $85.00 price objective on shares of Splunk in a report on Tuesday, August 23rd. Barclays PLC boosted their price target on shares of Splunk from $51.00 to $56.00 and gave the stock an equal weight rating in a report on Friday, August 26th. Finally, Robert W. Baird boosted their price target on shares of Splunk from $62.00 to $65.00 and gave the stock an outperform rating in a report on Friday, August 26th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $66.88.

Shares of Splunk (NASDAQ:SPLK) traded up 0.99% during trading on Monday, hitting $57.99. 1,965,617 shares of the stock traded hands. The stock’s market cap is $7.80 billion. The stock has a 50 day moving average price of $59.05 and a 200-day moving average price of $58.63. Splunk has a 1-year low of $29.85 and a 1-year high of $65.75.

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In related news, SVP Leonard R. Stein sold 1,075 shares of Splunk stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $60.00, for a total value of $64,500.00. Following the completion of the sale, the senior vice president now directly owns 115,262 shares in the company, valued at approximately $6,915,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Leonard R. Stein sold 3,435 shares of Splunk stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $58.64, for a total value of $201,428.40. Following the completion of the sale, the senior vice president now owns 116,437 shares of the company’s stock, valued at $6,827,865.68. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in Splunk by 5.5% in the second quarter. LS Investment Advisors LLC now owns 2,367 shares of the software company’s stock valued at $128,000 after buying an additional 123 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of Splunk during the second quarter valued at about $157,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Splunk by 5.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,397 shares of the software company’s stock valued at $199,000 after buying an additional 177 shares during the last quarter. Seven Eight Capital LLC purchased a new position in shares of Splunk during the second quarter valued at about $193,000. Finally, Salem Investment Counselors Inc. purchased a new position in shares of Splunk during the third quarter valued at about $210,000. Institutional investors own 98.58% of the company’s stock.

Splunk Company Profile

Splunk Inc is a provider of software solutions. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It operates through the development and marketing of software solutions segment, which enables its customers to gain real-time operational intelligence by harnessing the value of their data.

5 Day Chart for NASDAQ:SPLK

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