Hanson & Doremus Investment Management Purchases 334 Shares of Splunk Inc. (NASDAQ:SPLK)

Hanson & Doremus Investment Management raised its stake in shares of Splunk Inc. (NASDAQ:SPLK) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,706 shares of the software company’s stock after purchasing an additional 334 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Splunk were worth $2,850,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Schechter Investment Advisors LLC boosted its holdings in Splunk by 4.7% during the fourth quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock worth $239,000 after buying an additional 71 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Splunk by 9.6% during the third quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock worth $162,000 after buying an additional 97 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Splunk by 30.4% during the third quarter. Harbour Investments Inc. now owns 442 shares of the software company’s stock valued at $65,000 after purchasing an additional 103 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in Splunk by 3.6% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock valued at $455,000 after purchasing an additional 105 shares in the last quarter. Finally, Impact Partnership Wealth LLC lifted its holdings in Splunk by 11.8% during the third quarter. Impact Partnership Wealth LLC now owns 1,024 shares of the software company’s stock valued at $150,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SPLK shares. StockNews.com started coverage on shares of Splunk in a research report on Wednesday, April 3rd. They issued a “buy” rating for the company. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.31.

Splunk Price Performance

NASDAQ:SPLK remained flat at $156.90 during trading hours on Monday. The company’s stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The business has a 50 day simple moving average of $155.72 and a 200-day simple moving average of $151.93. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. 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 quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61.

Splunk (NASDAQ:SPLK) last announced its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping the consensus estimate of $1.05 by $1.42. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. As a group, sell-side analysts expect that Splunk Inc. will post 1.62 earnings per share for the current year.

Insider Buying and Selling at Splunk

In other news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total transaction of $763,988.76. Following the sale, the senior vice president now owns 89,265 shares of the company’s stock, valued at $13,593,274.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

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.