Octavia Wealth Advisors LLC Acquires Shares of 2,897 Splunk Inc. (NASDAQ:SPLK)

Octavia Wealth Advisors LLC acquired a new stake in shares of Splunk Inc. (NASDAQ:SPLK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,897 shares of the software company’s stock, valued at approximately $441,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Starboard Value LP bought a new position in shares of Splunk in the fourth quarter valued at about $160,720,000. Norges Bank bought a new position in shares of Splunk in the fourth quarter valued at about $83,922,000. Jericho Capital Asset Management L.P. raised its holdings in shares of Splunk by 85.6% in the third 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 buying an additional 643,000 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Splunk by 12.3% in the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after buying an additional 628,288 shares during the last quarter. Finally, Rokos Capital Management LLP raised its holdings in shares of Splunk by 90.7% in the second quarter. Rokos Capital Management LLP now owns 729,463 shares of the software company’s stock valued at $78,151,000 after buying an additional 346,951 shares during the last quarter. 87.56% of the stock is owned by institutional investors.

Splunk Price Performance

Shares of SPLK opened at $156.90 on Wednesday. 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 50 day simple moving average of $156.20 and a 200 day simple moving average of $152.49. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. The firm has a market capitalization 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 quarterly earnings data 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. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.26 billion. Sell-side analysts predict that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com assumed coverage on Splunk in a report on Thursday, April 11th. They set a “buy” rating for the company. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.