New York Life Investment Management LLC lowered its stake in shares of Splunk Inc. (NASDAQ:SPLK – Free Report) by 14.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,850 shares of the software company’s stock after selling 478 shares during the quarter. New York Life Investment Management LLC’s holdings in Splunk were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of SPLK. MetLife Investment Management LLC purchased a new stake in shares of Splunk during the first quarter worth $1,527,000. Raymond James Trust N.A. increased its position in shares of Splunk by 34.4% during the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock worth $737,000 after acquiring an additional 1,268 shares during the period. Prudential PLC purchased a new stake in shares of Splunk during the first quarter worth $357,000. National Pension Service increased its position in shares of Splunk by 8.1% during the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock worth $37,447,000 after acquiring an additional 18,834 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Splunk during the first quarter worth $89,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.
Splunk Trading Up 0.2 %
NASDAQ SPLK opened at $154.54 on Friday. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $154.60. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock has a market capitalization of $26.04 billion, a P/E ratio of 367.95, a P/E/G ratio of 3.04 and a beta of 1.02. The firm has a 50-day moving average price of $152.52 and a 200 day moving average price of $138.70.
Insider Transactions at Splunk
In other news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total transaction of $763,988.76. Following the completion of the transaction, the senior vice president now directly owns 89,265 shares of the company’s stock, valued at approximately $13,593,274.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Splunk in a research note on Wednesday. They set a “buy” rating for the company. Truist Financial downgraded shares of Splunk from a “buy” rating to a “hold” rating and set a $157.00 target price for the company. in a research note on Wednesday, November 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $157.00 target price on shares of Splunk in a research note on Monday, November 27th. Twenty-four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $134.00.
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.
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