Mackenzie Financial Corp Trims Stock Holdings in Splunk Inc. (NASDAQ:SPLK)

Mackenzie Financial Corp reduced its stake in Splunk Inc. (NASDAQ:SPLK) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,259 shares of the software company’s stock after selling 116 shares during the period. Mackenzie Financial Corp’s holdings in Splunk were worth $1,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. grew its position in 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 acquiring an additional 142 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Splunk during the third quarter worth about $33,000. Venturi Wealth Management LLC acquired a new position in shares of Splunk during the third quarter worth about $42,000. First Command Advisory Services Inc. acquired a new position in shares of Splunk during the third quarter worth about $44,000. Finally, Webster Bank N. A. acquired a new position in shares of Splunk during the fourth quarter worth about $44,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Thursday. The stock has a fifty day moving average price of $156.52 and a two-hundred day moving average price of $152.89. The stock 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. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97.

Splunk (NASDAQ:SPLK) last posted its 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 for the quarter, compared to analyst estimates of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. As a group, sell-side analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPLK has been the subject of a number of research analyst reports. TheStreet raised Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. StockNews.com initiated coverage on Splunk in a report on Friday, April 19th. They issued a “buy” rating for the company. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.