Splunk Inc. (NASDAQ:SPLK) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its holdings in Splunk Inc. (NASDAQ:SPLK) by 99.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,556 shares of the software company’s stock after selling 29,051,244 shares during the period. Readystate Asset Management LP’s holdings in Splunk were worth $8,007,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FIL Ltd boosted its holdings in shares of Splunk by 86.1% in the 4th quarter. FIL Ltd now owns 4,586,306 shares of the software company’s stock valued at $698,724,000 after buying an additional 2,121,811 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Splunk by 16.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 113,295 shares of the software company’s stock valued at $17,262,000 after purchasing an additional 16,037 shares during the period. GSA Capital Partners LLP acquired a new position in Splunk during the 4th quarter valued at about $437,000. Moneta Group Investment Advisors LLC acquired a new position in Splunk during the 4th quarter valued at about $250,000. Finally, Vanguard Group Inc. boosted its stake in Splunk by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 16,363,126 shares of the software company’s stock valued at $2,492,922,000 after purchasing an additional 307,552 shares during the period. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Stock Performance

Shares of NASDAQ SPLK remained flat at $156.90 during midday trading on Wednesday. 5,546 shares of the company were exchanged, compared to its average volume of 2,084,977. Splunk Inc. has a twelve month low of $82.19 and a twelve month high of $156.97. The stock has a 50 day moving average price of $156.27 and a 200 day moving average price of $152.52. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.26 billion. Research analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com assumed coverage on shares of Splunk in a research note on Thursday, April 11th. They set a “buy” rating for the company. Twenty-three 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 presently has a consensus rating of “Hold” and an average price target 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.