Simplicity Solutions LLC Raises Stock Position in Splunk Inc. (NASDAQ:SPLK)

Simplicity Solutions LLC raised its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,667 shares of the software company’s stock after acquiring an additional 183 shares during the quarter. Simplicity Solutions LLC’s holdings in Splunk were worth $254,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cerity Partners LLC grew its position in shares of Splunk by 24.7% during the fourth quarter. Cerity Partners LLC now owns 4,164 shares of the software company’s stock valued at $634,000 after purchasing an additional 825 shares in the last quarter. CKW Financial Group increased its stake in Splunk by 36.9% in the fourth quarter. CKW Financial Group now owns 556 shares of the software company’s stock worth $85,000 after purchasing an additional 150 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Splunk by 1.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock worth $764,000 after purchasing an additional 91 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of Splunk by 1.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 18,706 shares of the software company’s stock valued at $2,850,000 after purchasing an additional 334 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Splunk by 10,816.4% in the fourth quarter. International Assets Investment Management LLC now owns 152,502 shares of the software company’s stock worth $23,234,000 after purchasing an additional 151,105 shares during the last quarter. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Stock Performance

NASDAQ SPLK opened at $156.90 on Friday. Splunk Inc. has a one year low of $82.19 and a one year high of $156.97. The firm has a 50 day simple moving average of $156.37 and a 200-day simple moving average of $152.67. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating the consensus estimate of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Equities research analysts anticipate 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 Friday. They issued a “buy” rating for the company. TheStreet upgraded 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $135.31.

Splunk 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.