Handelsbanken Fonder AB Boosts Stake in Splunk Inc. (NASDAQ:SPLK)

Handelsbanken Fonder AB lifted its position in Splunk Inc. (NASDAQ:SPLK) by 133.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,194 shares of the software company’s stock after buying an additional 49,225 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of Splunk worth $13,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. raised its holdings in shares of Splunk by 546.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock valued at $25,000 after buying an additional 142 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Splunk in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC purchased a new stake in shares of Splunk in the 3rd quarter valued at $42,000. First Command Advisory Services Inc. purchased a new stake in shares of Splunk in the 3rd quarter valued at $44,000. Finally, Webster Bank N. A. purchased a new stake in shares of Splunk in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Splunk Price Performance

Splunk stock opened at $156.90 on Wednesday. Splunk Inc. has a fifty-two week low of $82.19 and a fifty-two week high of $156.97. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The stock has a 50-day simple moving average of $156.47 and a 200-day simple moving average of $152.86.

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

Wall Street Analyst Weigh In

SPLK has been the topic of several research analyst reports. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a research note on Friday, April 19th. They set a “buy” rating for the company. Twenty-three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $135.31.

About Splunk

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.