Splunk Inc. (NASDAQ:SPLK) Stock Position Lowered by Cwm LLC

Cwm LLC lowered its position in shares of Splunk Inc. (NASDAQ:SPLK) by 98.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,241 shares of the software company’s stock after selling 59,937 shares during the quarter. Cwm LLC’s holdings in Splunk were worth $189,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SPLK. Jericho Capital Asset Management L.P. boosted its position in shares of 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 in the last quarter. Federated Hermes Inc. boosted its holdings in Splunk by 48.8% during the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after buying an additional 276,742 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Splunk by 1,234.5% in the third quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock worth $40,938,000 after buying an additional 258,941 shares during the last quarter. abrdn plc increased its holdings in shares of Splunk by 144.7% in the fourth quarter. abrdn plc now owns 369,213 shares of the software company’s stock valued at $56,250,000 after buying an additional 218,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Splunk by 229.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 308,857 shares of the software company’s stock valued at $45,170,000 after acquiring an additional 215,041 shares during the last quarter. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Price Performance

SPLK stock opened at $156.90 on Friday. 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 firm has a market cap of $26.44 billion, a PE ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The company has a fifty day simple moving average of $156.72 and a 200 day simple moving average of $153.31.

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

Analyst Ratings Changes

SPLK has been the topic of a number of recent research reports. StockNews.com started coverage on Splunk in a report on Sunday. They issued a “buy” rating on the stock. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research note 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. Based on data from MarketBeat.com, Splunk currently has a consensus 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.