New York Life Investment Management LLC Has $20.56 Million Position in Splunk Inc. (NASDAQ:SPLK)

New York Life Investment Management LLC grew its position in Splunk Inc. (NASDAQ:SPLK) by 4,634.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,941 shares of the software company’s stock after buying an additional 132,091 shares during the period. New York Life Investment Management LLC owned approximately 0.08% of Splunk worth $20,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPLK. Raleigh Capital Management Inc. boosted its position in shares of Splunk by 546.2% during the third 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 acquired a new position in Splunk during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC bought a new position in Splunk in the third quarter valued at approximately $42,000. Webster Bank N. A. acquired a new stake in shares of Splunk in the 4th quarter valued at approximately $44,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Splunk in the third quarter valued at $44,000. 87.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SPLK shares. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com began coverage on Splunk in a research note on Saturday. They issued a “buy” rating on the stock. Twenty-three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $135.31.

Splunk Price Performance

Splunk stock remained flat at $156.90 during midday trading on Wednesday. The company had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The business has a 50 day moving average of $156.64 and a 200-day moving average of $153.20. 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 Inc. has a fifty-two week low of $82.19 and a fifty-two week high of $156.97. The firm has a market cap of $26.44 billion, a price-to-earnings 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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Equities research analysts expect that Splunk Inc. will post 1.62 EPS for the current 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.