Kestra Private Wealth Services LLC Takes Position in Splunk Inc. (NASDAQ:SPLK)

Kestra Private Wealth Services LLC bought a new stake in Splunk Inc. (NASDAQ:SPLK) during the 4th quarter, HoldingsChannel reports. The fund bought 5,775 shares of the software company’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. increased its stake in Splunk by 546.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after buying an additional 142 shares during the period. Orion Capital Management LLC purchased a new position in Splunk in the 3rd quarter worth about $33,000. Venturi Wealth Management LLC purchased a new position in Splunk in the 3rd quarter worth about $42,000. First Command Advisory Services Inc. purchased a new position in Splunk in the 3rd quarter worth about $44,000. Finally, Webster Bank N. A. purchased a new position in Splunk in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Splunk in a report on Sunday. They set a “buy” rating on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Splunk has an average rating of “Hold” and a consensus target price of $135.31.

Splunk Price Performance

SPLK opened at $156.90 on Friday. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50-day moving average of $156.72 and a 200-day moving average of $153.31. The company has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG 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.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The company 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%. Equities analysts expect that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Splunk Company 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.