Sumitomo Mitsui Trust Holdings Inc. Sells 337,427 Shares of Splunk Inc. (NASDAQ:SPLK)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Splunk Inc. (NASDAQ:SPLK) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,988 shares of the software company’s stock after selling 337,427 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of Splunk worth $59,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new position in Splunk in the 1st quarter worth approximately $1,527,000. Raymond James Trust N.A. raised its position in shares of Splunk by 34.4% during the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock valued at $737,000 after buying an additional 1,268 shares during the last quarter. Prudential PLC purchased a new position in shares of Splunk in the first quarter worth $357,000. National Pension Service boosted its position in shares of Splunk by 8.1% during the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock worth $37,447,000 after acquiring an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in Splunk during the first quarter valued at $89,000. Institutional investors own 87.56% of the company’s stock.

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $156.90 on Friday. 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. The business has a 50 day simple moving average of $156.33 and a two-hundred day simple moving average of $152.55. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. 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 (NASDAQ:SPLK) last posted its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. On average, equities analysts predict that Splunk Inc. will post 1.62 EPS for the current year.

Analyst Ratings Changes

SPLK has been the topic of several research analyst reports. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com assumed coverage on Splunk in a research report on Friday. They issued a “buy” rating on the stock. Twenty-three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.