Raymond James & Associates Sells 64,619 Shares of Splunk Inc. (NASDAQ:SPLK)

Raymond James & Associates lessened its position in Splunk Inc. (NASDAQ:SPLK - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,610 shares of the software company's stock after selling 64,619 shares during the quarter. Raymond James & Associates owned approximately 0.06% of Splunk worth $14,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its stake in shares of Splunk by 546.2% in the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company's stock worth $25,000 after purchasing an additional 142 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Splunk in the third quarter worth $33,000. Venturi Wealth Management LLC bought a new stake in shares of Splunk in the third quarter worth $42,000. First Command Advisory Services Inc. bought a new stake in shares of Splunk in the third quarter worth $44,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Splunk by 278.4% in the third quarter. Manchester Capital Management LLC now owns 367 shares of the software company's stock worth $54,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 87.56% of the company's stock.

Analyst Upgrades and Downgrades

SPLK has been the subject of several recent research reports. StockNews.com initiated coverage on Splunk in a report on Wednesday. They set a "buy" rating for the company. TheStreet raised 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 assigned a buy rating to the company. Based on data from MarketBeat, Splunk presently has a consensus rating of "Hold" and a consensus price target of $135.31.

Splunk Stock Performance

Shares of SPLK remained flat at $156.90 during mid-day trading on Wednesday. 5,546 shares of the stock traded hands, compared to its average volume of 2,084,977. Splunk Inc. has a twelve month low of $82.19 and a twelve month high of $156.97. 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. The company has a fifty day simple moving average of $155.50 and a 200 day simple moving average of $151.14. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69.

Splunk (NASDAQ:SPLK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. On average, equities research analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current year.

Insiders Place Their Bets

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 value of $763,988.76. Following the transaction, the senior vice president now directly owns 89,265 shares in the company, valued at approximately $13,593,274.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

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.