Pacer Advisors Inc. Buys 8,024 Shares of Splunk Inc. (NASDAQ:SPLK)

Pacer Advisors Inc. lifted its holdings in Splunk Inc. (NASDAQ:SPLK - Free Report) by 1,412.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,592 shares of the software company's stock after acquiring an additional 8,024 shares during the period. Pacer Advisors Inc.'s holdings in Splunk were worth $1,309,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its holdings in shares of Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company's stock valued at $25,000 after buying an additional 142 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Splunk during the 3rd quarter worth approximately $33,000. Quarry LP purchased a new position in Splunk in the 2nd quarter valued at approximately $41,000. Venturi Wealth Management LLC purchased a new position in Splunk in the 3rd quarter valued at approximately $42,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Splunk during the 3rd quarter worth $44,000. Institutional investors own 87.56% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com started coverage on shares of Splunk in a research note on Tuesday, March 26th. They issued a "buy" rating on the stock. TheStreet raised shares of Splunk from a "c" rating to a "b" rating in a report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Splunk has a consensus rating of "Hold" and a consensus target price of $135.31.

Splunk Stock Performance

Shares of SPLK remained flat at $156.90 during mid-day trading on Tuesday. 47 shares of the stock were exchanged, compared to its average volume of 2,084,977. The business's fifty day moving average price is $155.43 and its 200 day moving average price is $150.89. Splunk Inc. has a one year low of $82.19 and a one year high of $156.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The company has a market cap of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK - Get Free Report) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Splunk 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.