Atria Wealth Solutions Inc. Boosts Stock Position in Splunk Inc. (NASDAQ:SPLK)

Atria Wealth Solutions Inc. grew its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 48.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,707 shares of the software company’s stock after buying an additional 1,540 shares during the period. Atria Wealth Solutions Inc.’s holdings in Splunk were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SPLK. Jericho Capital Asset Management L.P. raised its stake in Splunk by 85.6% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock valued at $203,872,000 after purchasing an additional 643,000 shares during the period. Federated Hermes Inc. raised its stake in Splunk by 48.8% during the 3rd quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock valued at $123,415,000 after purchasing an additional 276,742 shares during the period. Assenagon Asset Management S.A. raised its stake in Splunk by 1,234.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock valued at $40,938,000 after purchasing an additional 258,941 shares during the period. abrdn plc raised its stake in Splunk by 144.7% during the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock valued at $56,250,000 after purchasing an additional 218,311 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in Splunk by 229.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 308,857 shares of the software company’s stock valued at $45,170,000 after purchasing an additional 215,041 shares during the period. 87.56% of the stock is owned by hedge funds and other institutional investors.

Splunk Stock Performance

Shares of NASDAQ:SPLK opened at $156.90 on Friday. The business’s 50-day moving average is $156.72 and its 200 day moving average is $153.31. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. 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 current ratio of 1.69 and a quick ratio of 1.69.

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 the consensus estimate of $1.05 by $1.42. The company 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, research analysts predict that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPLK shares. StockNews.com started coverage on Splunk in a research note on Sunday. They issued a “buy” rating on the stock. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, 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.