Douglas Merritt Sells 27,526 Shares of Splunk Inc. (NASDAQ:SPLK) Stock

Splunk Inc. (NASDAQ:SPLK) CEO Douglas Merritt sold 27,526 shares of the firm’s stock in a transaction dated Thursday, September 16th. The shares were sold at an average price of $151.55, for a total value of $4,171,565.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Douglas Merritt also recently made the following trade(s):

  • On Tuesday, June 29th, Douglas Merritt sold 6,047 shares of Splunk stock. The shares were sold at an average price of $145.00, for a total value of $876,815.00.

NASDAQ:SPLK opened at $146.76 on Tuesday. The company’s 50-day moving average price is $146.38 and its 200-day moving average price is $135.94. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.87. The company has a market cap of $23.71 billion, a P/E ratio of -19.97 and a beta of 1.22. Splunk Inc. has a twelve month low of $110.28 and a twelve month high of $222.19.

Splunk (NASDAQ:SPLK) last posted its quarterly earnings results on Tuesday, August 24th. The software company reported ($0.62) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.07. The firm had revenue of $605.74 million for the quarter, compared to the consensus estimate of $563.27 million. Splunk had a negative net margin of 49.60% and a negative return on equity of 55.19%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm posted ($0.33) earnings per share. On average, analysts expect that Splunk Inc. will post -5.71 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Goodwin Investment Advisory purchased a new position in Splunk during the second quarter worth about $25,000. Eudaimonia Partners LLC purchased a new position in Splunk during the first quarter worth about $26,000. PNC Managed Account Solutions Inc. purchased a new position in Splunk during the second quarter worth about $31,000. Cedar Wealth Management LLC purchased a new position in Splunk during the second quarter worth about $33,000. Finally, Concord Wealth Partners raised its stake in Splunk by 1,668.8% during the first quarter. Concord Wealth Partners now owns 283 shares of the software company’s stock worth $38,000 after purchasing an additional 267 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

SPLK has been the subject of several recent analyst reports. DA Davidson lowered their price target on Splunk from $156.00 to $150.00 and set a “neutral” rating for the company in a report on Thursday, June 3rd. Morgan Stanley raised their price target on Splunk from $150.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, August 26th. Evercore ISI lowered their price target on Splunk from $225.00 to $186.00 and set an “outperform” rating for the company in a report on Thursday, June 3rd. BMO Capital Markets raised their price target on Splunk from $148.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Finally, Needham & Company LLC raised their price target on Splunk from $198.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $175.10.

About Splunk

Splunk, Inc engages in the development and marketing of 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. The company was founded by Erik M.

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