8,000 Shares in Splunk Inc. (NASDAQ:SPLK) Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC purchased a new stake in shares of Splunk Inc. (NASDAQ:SPLK - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 8,000 shares of the software company's stock, valued at approximately $1,219,000. Splunk makes up 9.1% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 3rd largest position.

Other hedge funds have also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted 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 worth $25,000 after purchasing an additional 142 shares during the period. Orion Capital Management LLC purchased a new position in shares of Splunk during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC bought a new position in shares of Splunk during the third quarter valued at approximately $42,000. Webster Bank N. A. bought a new stake in Splunk in the fourth quarter valued at $44,000. Finally, First Command Advisory Services Inc. purchased a new position in Splunk during the 3rd quarter valued at $44,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Stock Performance

Shares of SPLK stock remained flat at $156.90 during trading hours on Friday. 5,546 shares of the stock were exchanged, 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 business has a 50 day moving average of $156.37 and a two-hundred day moving average of $152.63. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK - Get Free Report) last posted its earnings results 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 business 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 forecast that Splunk Inc. will post 1.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Splunk in a research note on Friday. They set a "buy" rating on the stock. TheStreet upgraded 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Splunk presently has an average rating of "Hold" and an average price target of $135.31.

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.