Del Sette Capital Management LLC Has $348,000 Holdings in Splunk Inc. (NASDAQ:SPLK)

Del Sette Capital Management LLC cut its position in Splunk Inc. (NASDAQ:SPLK) by 89.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,282 shares of the software company’s stock after selling 19,238 shares during the quarter. Splunk comprises about 0.3% of Del Sette Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Del Sette Capital Management LLC’s holdings in Splunk were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Splunk by 8.3% in the third quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock valued at $252,996,000 after acquiring 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 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 buying an additional 643,000 shares in the last quarter. Federated Hermes Inc. grew its position in Splunk by 48.8% during the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after buying an additional 276,742 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Splunk by 4.0% during 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 during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Splunk by 34.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 611,501 shares of the software company’s stock valued at $90,104,000 after acquiring an additional 157,121 shares in the last quarter. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Price Performance

Shares of NASDAQ SPLK remained flat at $156.90 during trading on Friday. 5,546 shares of the stock traded hands, compared to its average volume of 2,084,977. The company’s 50 day moving average price is $156.58 and its two-hundred day moving average price is $153.07. The firm has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. 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 posted its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping the consensus estimate of $1.05 by $1.42. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. On average, equities analysts expect that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com started coverage on Splunk in a report on Saturday. They set a “buy” rating on the stock. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Splunk presently has an average rating of “Hold” and an average target price 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.