State of New Jersey Common Pension Fund D Boosts Stake in Splunk Inc. (NASDAQ:SPLK)

State of New Jersey Common Pension Fund D lifted its stake in Splunk Inc. (NASDAQ:SPLK) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,706 shares of the software company’s stock after purchasing an additional 2,262 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Splunk worth $13,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schechter Investment Advisors LLC increased its stake in Splunk by 4.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock worth $239,000 after buying an additional 71 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Splunk by 1.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock valued at $764,000 after acquiring an additional 91 shares during the period. V Square Quantitative Management LLC raised its holdings in Splunk by 9.6% during the third quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock valued at $162,000 after acquiring an additional 97 shares during the period. Blue Trust Inc. raised its holdings in Splunk by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,008 shares of the software company’s stock valued at $148,000 after acquiring an additional 108 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in Splunk by 4.9% during the fourth quarter. Yousif Capital Management LLC now owns 2,313 shares of the software company’s stock valued at $352,000 after acquiring an additional 108 shares during the period. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Stock Performance

Shares of Splunk stock remained flat at $156.90 on Thursday. 5,546 shares of the stock traded hands, compared to its average volume of 2,084,977. The company has a 50 day moving average of $156.52 and a 200 day moving average of $152.89. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The stock 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 posted 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 net margin of 6.26% and a return on equity of 32,117.42%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. As a group, research analysts anticipate that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

SPLK has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Splunk in a report on Friday, April 19th. They set a “buy” rating on the stock. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Splunk presently has an average rating of “Hold” and a consensus price target of $135.31.

About Splunk

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.