Splunk Inc. (NASDAQ:SPLK) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the software company’s stock after selling 100 shares during the period. NewEdge Wealth LLC’s holdings in Splunk were worth $305,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Clearbridge Investments LLC raised its position in shares of Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock worth $855,038,000 after purchasing an additional 628,288 shares during the last quarter. Legal & General Group Plc raised its position in shares of Splunk by 8.0% during the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock worth $198,246,000 after purchasing an additional 170,233 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Splunk by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 2,207,458 shares of the software company’s stock worth $211,337,000 after purchasing an additional 80,045 shares during the last quarter. Starboard Value LP acquired a new position in shares of Splunk during the 4th quarter worth approximately $160,720,000. Finally, Ameriprise Financial Inc. raised its holdings in Splunk by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock valued at $252,996,000 after acquiring an additional 131,909 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

Splunk Stock Performance

Shares of Splunk stock opened at $156.90 on Thursday. The firm has a market cap of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The firm’s 50-day simple moving average is $156.27 and its 200-day simple moving average is $152.52. 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 (NASDAQ:SPLK) last released its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.05 by $1.42. The firm had revenue of $1.49 billion for 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%. Equities analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SPLK shares. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a report on Thursday, April 11th. They issued a “buy” rating for the company. Twenty-three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $135.31.

Splunk Profile

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.