Shares of Splunk (SPLK) Sees Large Outflow of Money

Splunk (SPLK): The stock had negative money flow to the tune of ($0.97 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $2.6 million, whereas, the outflow of money on downticks was $3.57 million and the ratio between the two was 0.73. The block trade had a negative net money flow of ($1.11 million). On the other hand, downticks amounted to $1.11 million of the traded value, which shows distribution in the stock by traders. Splunk (SPLK) closed with marginal gains of 6 cents to end the day at $58.2, an increase of 0.11% over the previous days close. The stock recorded -0.86% for the week.


Also, Stifel Nicolaus maintains its view on Splunk (NASDAQ:SPLK) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Stifel Nicolaus raises the price target from $56 per share to $62 per share on Splunk . The rating by the firm was issued on June 16, 2016.

Splunk (NASDAQ:SPLK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.47 and $57.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $60.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $59.49, notching a gain of 2.32% for the day. The total traded volume was 1,771,652 . The stock had closed at $58.14 on the previous day.

The stock has recorded a 20-day Moving Average of 5.46% and the 50-Day Moving Average is 7.74%. In a related news, Sullivan Godfrey, director of Splunk Inc, unloaded 120,000 shares at an average price of $58.28 on July 11, 2016. The total amount of the transaction was worth $6,993,600, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Splunk Inc. is a provider of software products that allow organizations to gain real-time operational intelligence by harnessing the value of their data. The Companys products allow users to collect, index, search, explore, monitor and analyze data regardless of format or source. The Companys products address diverse data sets referred to as big data and are specifically tailored for machine-generated data. The Companys flagship product is Splunk Enterprise, which is a machine data engine, consisting of collection, indexing, search, reporting, analysis, alerting, and monitoring and data management capabilities. The Companys Splunk Cloud service delivers the core functionalities of Splunk Enterprise as a cloud service. In addition, the Company offers user behavioral analytics to help detect, respond to and mitigate advanced, hidden and insider threats.

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