Acorn Financial Advisory Services Inc. ADV Has $1.78 Million Holdings in Splunk Inc. (NASDAQ:SPLK)

Acorn Financial Advisory Services Inc. ADV decreased its position in Splunk Inc. (NASDAQ:SPLK) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,704 shares of the software company’s stock after selling 317 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Splunk were worth $1,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. grew its holdings in shares of Splunk by 546.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock valued at $25,000 after acquiring an additional 142 shares in the last quarter. Orion Capital Management LLC bought a new position in Splunk during the third quarter worth about $33,000. Quarry LP bought a new position in Splunk during the second quarter worth about $41,000. Venturi Wealth Management LLC acquired a new stake in Splunk during the third quarter worth approximately $42,000. Finally, First Command Advisory Services Inc. acquired a new stake in Splunk during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total value of $763,988.76. Following the transaction, the senior vice president now owns 89,265 shares of the company’s stock, valued at approximately $13,593,274.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Splunk Price Performance

SPLK stock opened at $156.90 on Wednesday. The stock has a market capitalization of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The company’s 50-day moving average is $155.03 and its 200-day moving average is $149.71. 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 Inc. has a 1 year low of $82.19 and a 1 year high of $156.97.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The company 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%. Equities research analysts expect that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPLK has been the subject of several research reports. StockNews.com assumed coverage on shares of Splunk in a research report on Tuesday. They set a “buy” rating for the company. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Finally, Truist Financial downgraded shares of Splunk from a “buy” rating to a “hold” rating and set a $157.00 price objective for the company. in a research report on Wednesday, November 29th. Twenty-three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Splunk 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.