Cwm LLC Sells 59,937 Shares of Splunk Inc. (NASDAQ:SPLK)

Cwm LLC lowered its position in Splunk Inc. (NASDAQ:SPLK) by 98.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,241 shares of the software company’s stock after selling 59,937 shares during the period. Cwm LLC’s holdings in Splunk were worth $189,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its holdings in shares of Splunk by 546.2% in the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after acquiring an additional 142 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Splunk in the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC bought a new stake in Splunk during the 3rd quarter worth approximately $42,000. First Command Advisory Services Inc. acquired a new stake in Splunk during the 3rd quarter worth approximately $44,000. Finally, Webster Bank N. A. acquired a new stake in Splunk during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Friday. The company 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. The firm has a 50-day moving average of $156.72 and a 200-day moving average of $153.31. Splunk Inc. has a one year low of $82.19 and a one year high of $156.97. 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 issued 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate 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 forecast that Splunk Inc. will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SPLK. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a report on Sunday. They set 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.31.

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.