Splunk Inc. (NASDAQ:SPLK) Stake Lessened by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC cut its stake in Splunk Inc. (NASDAQ:SPLK) by 59.8% in the 4th quarter, HoldingsChannel reports. The fund owned 38,321 shares of the software company’s stock after selling 57,082 shares during the period. Motley Fool Asset Management LLC’s holdings in Splunk were worth $5,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPLK. Jericho Capital Asset Management L.P. boosted its holdings in shares of Splunk by 85.6% in the third 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 acquiring an additional 643,000 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Splunk by 48.8% in the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock valued at $123,415,000 after acquiring an additional 276,742 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Splunk by 1,234.5% in the third quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock valued at $40,938,000 after acquiring an additional 258,941 shares in the last quarter. abrdn plc boosted its holdings in shares of Splunk by 144.7% in the fourth quarter. abrdn plc now owns 369,213 shares of the software company’s stock valued at $56,250,000 after acquiring an additional 218,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Splunk by 229.2% in the third quarter. Los Angeles Capital Management LLC now owns 308,857 shares of the software company’s stock valued at $45,170,000 after acquiring an additional 215,041 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors.

Splunk Price Performance

Shares of Splunk stock remained flat at $156.90 during trading on Thursday. 5,546 shares of the stock traded hands, compared to its average volume of 2,084,977. 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 business’s fifty day simple moving average is $156.55 and its two-hundred day simple moving average is $152.91. Splunk Inc. has a 1-year low of $82.19 and a 1-year high of $156.97. The firm has a market cap of $26.44 billion, a P/E ratio of 124.52, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The firm had revenue of $1.49 billion for 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%. As a group, equities research analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com assumed coverage on shares of Splunk in a report on Friday, April 19th. They set a “buy” rating for the company. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.