Splunk Inc. (NASDAQ:SPLK) Shares Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in Splunk Inc. (NASDAQ:SPLK) by 188.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,498 shares of the software company’s stock after acquiring an additional 11,435 shares during the quarter. Wolverine Asset Management LLC’s holdings in Splunk were worth $2,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in shares of Splunk by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock valued at $252,996,000 after acquiring an additional 131,909 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its stake 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. raised its holdings in shares of Splunk by 48.8% during the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock valued at $123,415,000 after purchasing an additional 276,742 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Splunk by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 658,494 shares of the software company’s stock worth $96,305,000 after purchasing an additional 25,286 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Splunk by 34.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 611,501 shares of the software company’s stock valued at $90,104,000 after acquiring an additional 157,121 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.

Analysts Set New Price Targets

SPLK has been the subject of several recent analyst reports. StockNews.com began coverage on shares of Splunk in a research report on Friday, April 19th. They set a “buy” rating for the company. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $135.31.

Splunk Stock Performance

Shares of SPLK stock remained flat at $156.90 on Wednesday. The stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. Splunk Inc. has a 52 week low of $82.19 and a 52 week high of $156.97. The business has a fifty day moving average of $156.47 and a 200-day moving average of $152.86. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last released its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 32,117.42% and a net margin of 6.26%. As a group, research analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

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.