NewEdge Wealth LLC Trims Stake in Splunk Inc. (NASDAQ:SPLK)

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

Other institutional investors also recently bought and sold shares of the company. Carmignac Gestion purchased a new position in Splunk during the 3rd quarter worth $6,248,000. Nordea Investment Management AB increased its holdings in Splunk by 682.1% during the 4th quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock worth $12,909,000 after purchasing an additional 73,990 shares during the period. DNB Asset Management AS increased its holdings in Splunk by 25.8% during the 4th quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock worth $7,319,000 after purchasing an additional 9,847 shares during the period. Capula Management Ltd purchased a new position in Splunk during the 3rd quarter worth $2,486,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Splunk in the 3rd quarter valued at $320,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com assumed coverage on Splunk in a report on Thursday, April 11th. They issued a “buy” rating on the stock. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $135.31.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Thursday. The stock has a 50-day moving average of $156.27 and a two-hundred day moving average of $152.52. 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 quick ratio of 1.69 and a current ratio of 1.69. The stock 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 issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS 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 analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. As a group, research analysts predict that Splunk Inc. will post 1.62 EPS for the current year.

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.