Louisiana State Employees Retirement System Buys Shares of 13,400 Splunk Inc. (NASDAQ:SPLK)

Louisiana State Employees Retirement System purchased a new position in shares of Splunk Inc. (NASDAQ:SPLK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,400 shares of the software company’s stock, valued at approximately $2,041,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on Splunk in a research report on Thursday, April 11th. They set a “buy” rating on the stock. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.31.

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Thursday. The stock has a market cap 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 current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The stock has a 50 day simple moving average of $156.27 and a 200 day simple moving average of $152.52. Splunk Inc. has a 1-year low of $82.19 and a 1-year high of $156.97.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. Research analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current year.

Splunk Company Profile

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.