Splunk Inc. (NASDAQ:SPLK) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Splunk Inc. (NASDAQ:SPLK - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the software company's stock after selling 11,455 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Splunk were worth $1,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carmignac Gestion purchased a new stake in Splunk in the 3rd quarter valued at approximately $6,248,000. Nordea Investment Management AB boosted its stake in shares of Splunk by 682.1% in the fourth quarter. Nordea Investment Management AB now owns 84,838 shares of the software company's stock valued at $12,909,000 after buying an additional 73,990 shares in the last quarter. DNB Asset Management AS grew its holdings in Splunk by 25.8% during the fourth quarter. DNB Asset Management AS now owns 48,043 shares of the software company's stock worth $7,319,000 after acquiring an additional 9,847 shares during the period. Capula Management Ltd purchased a new position in Splunk in the third quarter worth $2,486,000. Finally, QRG Capital Management Inc. acquired a new stake in Splunk in the third quarter valued at $320,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPLK shares. TheStreet raised shares of Splunk from a "c" rating to a "b" rating in a research note on Tuesday, February 27th. StockNews.com initiated coverage on shares of Splunk in a report on Thursday, April 11th. They set a "buy" rating on the stock. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Splunk currently has a consensus rating of "Hold" and an average target price of $135.31.

Splunk Stock Performance

NASDAQ SPLK remained flat at $156.90 during mid-day trading on Thursday. 5,546 shares of the company were exchanged, compared to its average volume of 2,084,977. The firm has a market capitalization of $26.44 billion, a PE ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. 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 Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The firm's fifty day simple moving average is $156.33 and its two-hundred day simple moving average is $152.55.

Splunk (NASDAQ:SPLK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.26 billion. On average, analysts anticipate that Splunk Inc. will post 1.62 EPS for the current year.

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.