Russell Investments Group Ltd. Sells 684,345 Shares of Splunk Inc. (NASDAQ:SPLK)

Russell Investments Group Ltd. trimmed its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 95.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,432 shares of the software company’s stock after selling 684,345 shares during the quarter. Russell Investments Group Ltd.’s holdings in Splunk were worth $5,394,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in Splunk by 8.3% during the third quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock worth $252,996,000 after buying an additional 131,909 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in Splunk by 85.6% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock worth $203,872,000 after buying an additional 643,000 shares in the last quarter. Federated Hermes Inc. grew its stake in Splunk by 48.8% during the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after buying an additional 276,742 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Splunk by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,494 shares of the software company’s stock worth $96,305,000 after buying an additional 25,286 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Splunk by 34.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 611,501 shares of the software company’s stock worth $90,104,000 after buying an additional 157,121 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

Splunk Stock Performance

Shares of SPLK stock opened at $156.90 on Friday. 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 firm has a fifty day simple moving average of $156.79 and a two-hundred day simple moving average of $153.54. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The firm has a market capitalization of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last posted its earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping the consensus estimate of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. Analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SPLK shares. StockNews.com initiated coverage on shares of Splunk in a research note on Sunday, May 5th. They set a “buy” rating on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Splunk 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.