Splunk Inc. (NASDAQ:SPLK) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in Splunk Inc. (NASDAQ:SPLK - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,166 shares of the software company's stock after selling 32,194 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.09% of Splunk worth $22,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in 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 acquiring an additional 1,081 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Splunk during the 4th quarter worth approximately $51,000. Webster Bank N. A. bought a new stake in Splunk during the 4th quarter worth approximately $44,000. ICICI Prudential Asset Management Co Ltd bought a new stake in Splunk during the 4th quarter worth approximately $249,000. Finally, State of Alaska Department of Revenue raised its stake in Splunk by 14.8% during the 4th quarter. State of Alaska Department of Revenue now owns 28,072 shares of the software company's stock worth $4,276,000 after acquiring an additional 3,610 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 topic of several recent analyst reports. StockNews.com initiated coverage on shares of Splunk in a research report on Wednesday. They set a "buy" rating on the stock. TheStreet upgraded shares of Splunk from a "c" rating to a "b" rating in a research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $135.31.

Splunk Stock Performance

Shares of NASDAQ SPLK remained flat at $156.90 during trading hours on Friday. The company had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 12-month low of $82.19 and a 12-month high of $156.97. 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 50-day moving average price of $155.72 and a two-hundred day moving average price of $151.48.

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

Insider Transactions at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $13,593,274.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company's stock.

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.