Raymond James Financial Services Advisors Inc. Reduces Holdings in Splunk Inc. (NASDAQ:SPLK)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Splunk Inc. (NASDAQ:SPLK) by 65.7% during the fourth quarter, HoldingsChannel reports. The firm owned 6,723 shares of the software company’s stock after selling 12,872 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Splunk were worth $1,024,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SPLK. MetLife Investment Management LLC purchased a new stake in shares of Splunk during the first quarter valued at approximately $1,527,000. Raymond James Trust N.A. increased its stake in shares of Splunk by 34.4% in the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock worth $737,000 after buying an additional 1,268 shares during the last quarter. Prudential PLC bought a new stake in shares of Splunk in the first quarter worth $357,000. National Pension Service increased its stake in shares of Splunk by 8.1% in the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock worth $37,447,000 after buying an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Splunk in the first quarter worth $89,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Splunk in a research note on Thursday. They issued a “buy” rating for the company. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Splunk presently has an average rating of “Hold” and an average price target of $135.31.

Splunk Stock Up 0.2 %

Splunk stock opened at $156.90 on Monday. The company has a 50-day simple moving average of $156.06 and a 200-day simple moving average of $152.34. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. Splunk Inc. has a one year low of $82.19 and a one year high of $156.97.

Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. As a group, equities analysts expect that Splunk Inc. will post 1.62 earnings per share for the current year.

About Splunk

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.