Motley Fool Asset Management LLC Sells 57,082 Shares of Splunk Inc. (NASDAQ:SPLK)

Motley Fool Asset Management LLC reduced its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 59.8% in the fourth quarter, according to its most recent filing with the SEC. 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its position in Splunk by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock valued at $252,996,000 after purchasing an additional 131,909 shares in the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Splunk by 85.6% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock worth $203,872,000 after acquiring an additional 643,000 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Splunk by 48.8% in the 3rd quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after acquiring an additional 276,742 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Splunk by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 658,494 shares of the software company’s stock worth $96,305,000 after acquiring an additional 25,286 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Splunk by 34.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 611,501 shares of the software company’s stock worth $90,104,000 after buying an additional 157,121 shares during the last quarter. 87.56% of the stock is owned by institutional investors.

Splunk Stock Performance

Shares of SPLK stock remained flat at $156.90 during trading hours on Thursday. The stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a 50-day simple moving average of $156.55 and a two-hundred day simple moving average of $152.91. The firm has a market cap 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 Inc. has a 1-year low of $82.19 and a 1-year high of $156.97.

Splunk (NASDAQ:SPLK) last posted 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. The business had revenue of $1.49 billion during 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, analysts forecast that Splunk Inc. will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com assumed coverage on Splunk in a research note 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 note on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.