Benjamin F. Edwards & Company Inc. Sells 4,798 Shares of Splunk Inc. (NASDAQ:SPLK)

Benjamin F. Edwards & Company Inc. lessened its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 70.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,983 shares of the software company’s stock after selling 4,798 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Splunk were worth $302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Carmignac Gestion purchased a new position in Splunk in the 3rd quarter worth $6,248,000. Nordea Investment Management AB increased its holdings in shares of Splunk by 682.1% in the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock worth $12,909,000 after buying an additional 73,990 shares during the period. DNB Asset Management AS lifted its stake in shares of Splunk by 25.8% in the 4th quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock valued at $7,319,000 after acquiring an additional 9,847 shares during the last quarter. Capula Management Ltd purchased a new stake in Splunk during the 3rd quarter valued at about $2,486,000. Finally, QRG Capital Management Inc. bought a new position in Splunk during the 3rd quarter worth approximately $320,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Splunk Stock Performance

Shares of NASDAQ SPLK opened at $156.90 on Friday. The firm’s 50 day moving average price is $156.79 and its 200-day moving average price is $153.54. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. 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 company has a market cap of $26.44 billion, a PE ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last issued its 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. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. On average, equities research analysts expect that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on SPLK shares. StockNews.com assumed coverage on Splunk in a research report on Sunday, May 5th. They issued a “buy” rating for the company. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Splunk has a consensus 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.