abrdn plc Purchases 218,311 Shares of Splunk Inc. (NASDAQ:SPLK)

abrdn plc boosted its position in shares of Splunk Inc. (NASDAQ:SPLK) by 144.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 369,213 shares of the software company’s stock after buying an additional 218,311 shares during the quarter. abrdn plc owned approximately 0.22% of Splunk worth $56,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SPLK. Starboard Value LP purchased a new position in Splunk during the 4th quarter valued at $160,720,000. Norges Bank purchased a new position in Splunk during the 4th quarter valued at $83,922,000. Jericho Capital Asset Management L.P. increased its position in Splunk by 85.6% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock valued at $203,872,000 after purchasing an additional 643,000 shares during the period. Clearbridge Investments LLC increased its position in Splunk by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after purchasing an additional 628,288 shares during the period. Finally, Rokos Capital Management LLP increased its position in Splunk by 90.7% during the 2nd quarter. Rokos Capital Management LLP now owns 729,463 shares of the software company’s stock valued at $78,151,000 after purchasing an additional 346,951 shares during the period. 87.56% of the stock is owned by hedge funds and other institutional investors.

Splunk Price Performance

SPLK opened at $156.90 on Monday. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The company’s 50-day simple moving average is $156.37 and its two-hundred day simple moving average is $152.72. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $1.42. The business 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%. As a group, analysts predict that Splunk Inc. will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SPLK shares. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com initiated coverage on shares of Splunk in a research report on Friday. They issued a “buy” rating on the stock. Twenty-three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Splunk currently has an average rating of “Hold” and a consensus target price of $135.31.

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.