J.P. Morgan Private Wealth Advisors LLC Acquires New Shares in Splunk Inc. (NASDAQ:SPLK)

J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Splunk Inc. (NASDAQ:SPLKFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 27,198 shares of the software company’s stock, valued at approximately $3,978,000.

Other large investors have also recently bought and sold shares of the company. Clearbridge Investments LLC boosted its holdings in Splunk by 12.3% in the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after acquiring an additional 628,288 shares during the last quarter. Legal & General Group Plc grew its holdings in Splunk by 8.0% during the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock worth $198,246,000 after acquiring an additional 170,233 shares during the period. Geode Capital Management LLC raised its position in shares of Splunk by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,280,992 shares of the software company’s stock valued at $241,575,000 after acquiring an additional 73,534 shares during the last quarter. Starboard Value LP acquired a new position in shares of Splunk in the 4th quarter valued at $160,720,000. Finally, RGM Capital LLC boosted its position in shares of Splunk by 27.2% in the 2nd quarter. RGM Capital LLC now owns 976,125 shares of the software company’s stock worth $103,557,000 after purchasing an additional 208,917 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors.

Splunk Stock Performance

Shares of SPLK stock opened at $153.42 on Thursday. The stock has a market cap of $25.85 billion, a P/E ratio of 365.29, a P/E/G ratio of 3.03 and a beta of 1.02. The company has a fifty day moving average price of $152.40 and a two-hundred day moving average price of $138.23. Splunk Inc. has a one year low of $82.19 and a one year high of $153.88. 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 (NASDAQ:SPLKGet Free Report) last released its quarterly earnings data on Tuesday, November 28th. The software company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.47. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Splunk had a negative return on equity of 689.21% and a net margin of 2.66%. As a group, equities analysts predict that Splunk Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SPLK. Jefferies Financial Group reiterated a “hold” rating and issued a $157.00 price objective on shares of Splunk in a report on Monday, November 27th. StockNews.com initiated coverage on Splunk in a research note on Wednesday. They issued a “buy” rating for the company. Finally, Truist Financial lowered shares of Splunk from a “buy” rating to a “hold” rating and set a $157.00 price objective on the stock. in a research note on Wednesday, November 29th. Twenty-four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Splunk presently has an average rating of “Hold” and a consensus target price of $134.00.

Read Our Latest Analysis on Splunk

Insiders Place Their Bets

In related news, SVP Scott Morgan sold 5,017 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the completion of the sale, the senior vice president now directly owns 89,265 shares in the company, valued at approximately $13,593,274.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

About Splunk

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Splunk (NASDAQ:SPLK)

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