Wellington Management Co. LLP recently announced the acquisition of new stake in SVMK Inc. (NASDAQ:SVMK). The institutional investor has increased its shareholding in the Technology company by 4.59% to 14.95 million shares with purchase of 0.66 million shares. This fresh investment now brings its stake to 10.83% valued currently at $351.93 million. In addition, Capital Research & Management Co…. raised its holdings by 0.53 million to 11.4 million shares. And The Vanguard Group, Inc. has lifted its position by 1.90% or 0.18 million shares – to 9.59 million shares.
With over 0.49 million SVMK Inc. (SVMK) shares trading Friday and a closing price of $22.35 on the day, the dollar volume was approximately $11.02 million. The shares have shown a negative weekly performance of -1.72% and its price on 07/24/20 lost nearly -1.80%. Currently, there are 136.91M common shares owned by the public and among those 118.08M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for SVMK have a consensus price objective of $24.40. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $21.00 should the stock experience a downside. Incidentally, analysts’ outlook for the SVMK Inc. stock is 2.00 for the next 12 months. The average price target is 8.78% above its last price level and an upside to the estimated low will see the stock lose -6.43% over that period. But an upside of 17.22% will see the stock hit the forecast high price target while mean target price for the stock is $24.50.
Insiders at the company have transacted a total of 173 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 69 of these insider trades were purchases, accounting for 2,450,838 shares. Insider sales of the common stock occurred on 104 occasions, with total insider shares sold totaling 8,539,887 shares.
The top 3 mutual fund holders in SVMK Inc. are American Funds Small Cap World Fu, Vanguard Explorer Fund, and American Funds AMCAP Fund. American Funds Small Cap World Fu owns 6.23 million shares of the company’s stock, all valued at over $146.73 million. The company bought an additional 30771.0 shares recently to bring their total holdings to about 4.51% of the shares outstanding. Vanguard Explorer Fund bought 0.89 million shares to see its total holdings expand to 5.82 million shares valued at over $137.02 million and representing 4.22% of the shares outstanding. American Funds AMCAP Fund now owns shares totaling to 4.19% of the shares outstanding.
Shares of SVMK Inc. (NASDAQ: SVMK) opened at $22.55, down -$0.21 from a prior closing price of $22.76. However, the script later closed the day at $22.35, down -1.80%. The company’s stock has a 5-day price change of -1.72% and 45.70% over the past three months. SVMK shares are trading 25.07% year to date (YTD), with the 12-month market performance up to 25.63% higher. It has a 12-month low price of $9.35 and touched a high of $24.74 over the same period. Currently, 0.49 million shares have been traded, compared to an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.13%, 2.23%, and 23.36% respectively.
Institutional ownership of SVMK Inc. (NASDAQ: SVMK) shares accounts for 78.30% of the company’s 136.91M shares outstanding. Mutual fund holders own 35.32%, while other institutional holders and individual stakeholders account for 41.27% and 22.90% respectively.
It has a market capitalization of $3.04B. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.92% over the week and 4.12% over the month.
Analysts forecast that SVMK Inc. (SVMK) will achieve an EPS of -$0.02 for the current quarter, $0 for the next quarter and $0.06 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 60.90%, and 250.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate SVMK Inc. (SVMK) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 1 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SVMK, a number of firms have released research notes about the stock. Berenberg stated their Buy rating for the stock in a research note on July 21, 2020, with the firm’s price target at $27. Wells Fargo coverage for the SVMK Inc. (SVMK) stock in a research note released on May 18, 2020 offered a Overweight rating with a price target of $25. Needham was of a view on May 14, 2020 that the stock is Buy, while Craig Hallum gave the stock Buy rating on October 15, 2019, issuing a price target of $25. JP Morgan on their part issued Overweight rating on September 27, 2019.