Splunk Inc. (NASDAQ:SPLK) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,988 shares of the software company’s stock after selling 337,427 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Splunk were worth $59,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SPLK. Carmignac Gestion purchased a new position in Splunk in the 3rd quarter valued at $6,248,000. Nordea Investment Management AB boosted its position in Splunk by 682.1% during the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock worth $12,909,000 after acquiring an additional 73,990 shares during the last quarter. DNB Asset Management AS boosted its position in Splunk by 25.8% during the fourth quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock worth $7,319,000 after acquiring an additional 9,847 shares during the last quarter. Capula Management Ltd purchased a new stake in Splunk during the 3rd quarter valued at about $2,486,000. Finally, QRG Capital Management Inc. acquired a new stake in Splunk in the 3rd quarter valued at about $320,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Stock Performance

SPLK opened at $156.90 on Friday. Splunk Inc. has a 52 week low of $82.19 and a 52 week high of $156.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The business has a fifty day simple moving average of $156.33 and a 200-day simple moving average of $152.55. The firm has a market cap 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.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) 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 return on equity of 32,117.42% and a net margin of 6.26%. On average, equities analysts expect that Splunk Inc. will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPLK. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com assumed coverage on Splunk in a report on Friday. They issued a “buy” rating for the company. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Splunk currently has a consensus 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.