Legacy Trust Sells 13,181 Shares of Splunk Inc. (NASDAQ:SPLK)

Legacy Trust trimmed its position in Splunk Inc. (NASDAQ:SPLK - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,556 shares of the software company's stock after selling 13,181 shares during the quarter. Legacy Trust's holdings in Splunk were worth $1,761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Splunk by 10,816.4% in the 4th quarter. International Assets Investment Management LLC now owns 152,502 shares of the software company's stock valued at $23,234,000 after buying an additional 151,105 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Splunk by 2.5% during the 4th quarter. Arizona State Retirement System now owns 44,001 shares of the software company's stock worth $6,704,000 after purchasing an additional 1,081 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Splunk during the 4th quarter worth $51,000. Webster Bank N. A. acquired a new stake in shares of Splunk during the 4th quarter worth $44,000. Finally, ICICI Prudential Asset Management Co Ltd acquired a new stake in shares of Splunk during the 4th quarter worth $249,000. 87.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Scott Morgan sold 5,017 shares of the 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 $13,593,274.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPLK. StockNews.com began coverage on Splunk in a report on Wednesday. They set a "buy" rating on the stock. TheStreet raised Splunk from a "c" rating to a "b" rating in a 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $135.31.

Splunk Price Performance

Splunk stock remained flat at $156.90 during trading hours on Friday. The company's stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. The company has a market capitalization of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The business has a 50 day moving average of $155.65 and a 200 day moving average of $151.22.

Splunk (NASDAQ:SPLK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. The company had revenue of $1.49 billion during 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%. Research analysts anticipate that Splunk Inc. will post 1.62 EPS 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.