Splunk Inc. (NASDAQ:SPLK) Stake Raised by Lindbrook Capital LLC

Lindbrook Capital LLC increased its holdings in Splunk Inc. (NASDAQ:SPLK) by 13.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,004 shares of the software company’s stock after purchasing an additional 117 shares during the period. Lindbrook Capital LLC’s holdings in Splunk were worth $153,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. abrdn plc lifted its stake in Splunk by 144.7% in the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock worth $56,250,000 after acquiring an additional 218,311 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in Splunk in the 4th quarter worth about $1,219,000. Macroview Investment Management LLC lifted its stake in Splunk by 5,400.0% in the 4th quarter. Macroview Investment Management LLC now owns 2,035 shares of the software company’s stock worth $310,000 after acquiring an additional 1,998 shares in the last quarter. Desjardins Global Asset Management Inc. increased its position in Splunk by 43.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 409 shares of the software company’s stock worth $62,000 after purchasing an additional 123 shares during the last quarter. Finally, Octavia Wealth Advisors LLC acquired a new position in Splunk in the 4th quarter worth about $441,000. 87.56% of the stock is owned by hedge funds and other institutional investors.

Splunk Stock Performance

SPLK opened at $156.90 on Wednesday. The firm 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. The stock’s 50 day moving average price is $156.47 and its two-hundred day moving average price is $152.86. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. Splunk Inc. has a 12-month low of $82.19 and a 12-month high of $156.97.

Splunk (NASDAQ:SPLK) last released its 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. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. On average, equities analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on SPLK shares. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a research report on Friday, April 19th. They issued a “buy” rating on the stock. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.