Splunk Shares Down 11.1% After Insider Selling (SPLK)

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Splunk (NASDAQ:SPLK) shares were down 11.1% on Monday following insider selling activity, StockRatingsNetwork.com reports. The company traded as low as $74.08 and last traded at $75.38, with a volume of 3,826,229 shares. The stock had previously closed at $84.78.

Specifically, CEO Godfrey Sullivan sold 20,000 shares of Splunk stock on the open market in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $88.29, for a total value of $1,765,800.00. Following the sale, the chief executive officer now directly owns 557,190 shares in the company, valued at approximately $49,194,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of analysts have recently weighed in on SPLK shares. Analysts at Zacks downgraded shares of Splunk from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 6th. They now have a $90.30 price target on the stock. Separately, analysts at Pacific Crest raised their price target on shares of Splunk from $75.00 to $107.00 in a research note on Friday, February 28th. Finally, analysts at JMP Securities raised their price target on shares of Splunk from $99.00 to $110.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $87.53.

The stock’s 50-day moving average is $86.15 and its 200-day moving average is $71.05. The company’s market cap is $8.210 billion.

Splunk (NASDAQ:SPLK) last released its earnings data on Thursday, February 27th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.05 by $0.02. The company had revenue of $99.90 million for the quarter, compared to the consensus estimate of $90.36 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 53.2% on a year-over-year basis.

Splunk Inc (NASDAQ:SPLK) provides a software platform.

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