Short Interest Coverage: What Will Happen to Splunk Incorporated (NASDAQ:SPLK) Next? The Stock Has Increase in Shorts

November 16, 2016 - By Winifred Garcia   ·   0 Comments

Short Interest Coverage: What Will Happen to Splunk Incorporated (NASDAQ:SPLK) Next? The Stock Has Increase in Shorts

The stock of Splunk Incorporated (NASDAQ:SPLK) registered an increase of 11.32% in short interest. SPLK’s total short interest was 10.74M shares in November as published by FINRA. Its up 11.32% from 9.64M shares, reported previously. With 1.40M shares average volume, it will take short sellers 8 days to cover their SPLK’s short positions. The short interest to Splunk Incorporated’s float is 8.08%. About 474,841 shares traded hands. Splunk Inc (NASDAQ:SPLK) has risen 20.96% since April 14, 2016 and is uptrending. It has outperformed by 16.28% the S&P500.

Splunk Inc. is a provider of software solutions. The company has a market cap of $8.26 billion. The Company’s offerings enable users to collect, index, search, explore, monitor and analyze data. It currently has negative earnings. It operates through the development and marketing of software solutions segment, which enables its clients to gain real-time operational intelligence by harnessing the value of their data.

Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.28, from 1.11 in 2016Q1. The ratio improved, as 35 funds sold all Splunk Inc shares owned while 85 reduced positions. 53 funds bought stakes while 114 increased positions. They now own 131.07 million shares or 0.87% more from 129.93 million shares in 2016Q1.
Ridgeworth Mngmt Ltd Co last reported 149,021 shares in the company. Fjarde Ap has 39,149 shares for 0.05% of their US portfolio. Axa last reported 0.04% of its portfolio in the stock. Coatue Mngmt Limited Liability Corporation accumulated 0.99% or 1.28 million shares. Moreover, Kanaly Company has 0% invested in Splunk Inc (NASDAQ:SPLK) for 100 shares. Amp Cap Invsts last reported 34,552 shares in the company. Voya Invest Mgmt Limited Liability accumulated 0.01% or 56,798 shares. Eaton Vance Management has invested 0.02% of its portfolio in Splunk Inc (NASDAQ:SPLK). Commonwealth Retail Bank Of Australia, a Australia-based fund reported 600 shares. Lord Abbett Ltd Liability holds 126,133 shares or 0.02% of its portfolio. Moreover, 1832 Asset Mgmt Limited Partnership has 0.15% invested in Splunk Inc (NASDAQ:SPLK) for 687,000 shares. Point72 Asset L P has invested 0.09% of its portfolio in Splunk Inc (NASDAQ:SPLK). Blackrock Institutional Tru Na holds 0.03% of its portfolio in Splunk Inc (NASDAQ:SPLK) for 3.36M shares. Ubs Asset Mngmt Americas Incorporated, a Illinois-based fund reported 313,237 shares. Federated Pa holds 0.07% of its portfolio in Splunk Inc (NASDAQ:SPLK) for 464,400 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 insider buys, and 16 sales for $39.67 million net activity. SULLIVAN GODFREY sold 128,750 shares worth $7.30 million. Sommer Steven R had sold 5,855 shares worth $340,601. 6,155 shares with value of $357,606 were sold by Merritt Douglas on Wednesday, September 14. STEIN LEONARD R had sold 3,436 shares worth $194,031. CONTE DAVID F sold $675,470 worth of Splunk Inc (NASDAQ:SPLK) on Thursday, August 11.

Splunk Inc (NASDAQ:SPLK) Ratings Coverage

Out of 31 analysts covering Splunk Inc (NASDAQ:SPLK), 21 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 68% are positive. Splunk Inc has been the topic of 63 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Macquarie Research initiated the shares of SPLK in a report on Tuesday, April 26 with “Outperform” rating. Maxim Group maintained it with “Buy” rating and $75 target price in Friday, May 27 report. The stock of Splunk Inc (NASDAQ:SPLK) earned “Buy” rating by Maxim Group on Thursday, July 21. As per Tuesday, September 6, the company rating was initiated by Summit Redstone Partners. The firm has “Outperform” rating by RBC Capital Markets given on Friday, August 19. The stock has “Outperform” rating given by Wedbush on Monday, August 31. The stock of Splunk Inc (NASDAQ:SPLK) earned “Buy” rating by Cantor Fitzgerald on Monday, August 31. The stock of Splunk Inc (NASDAQ:SPLK) has “Buy” rating given on Saturday, August 29 by Deutsche Bank. Guggenheim downgraded Splunk Inc (NASDAQ:SPLK) on Tuesday, October 4 to “Neutral” rating. The company was initiated on Tuesday, December 15 by Guggenheim.

SPLK Company Profile

Splunk Inc., incorporated on April 11, 2006, is a well-known 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 clients to gain real-time operational intelligence by harnessing the value of their data. The Company’s offerings address diverse data sets that are referred to as big data and are specifically used for machine-generated data. Machine data is produced by various software application and electronic devices in an organization and contains a definitive, time-stamped record of various activities, such as transactions, customer and user activities and security threats. The Company’s products help users in various roles, including information technology (IT), security and business professionals, to analyze their machine data and achieve real-time visibility into and intelligence about their organization’s operations. In addition, the Company offers user behavioral analytics to help detect, respond to and mitigate advanced, hidden and insider threats.

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By Winifred Garcia


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