Wealth Alliance Trims Position in Splunk Inc. (NASDAQ:SPLK)

Wealth Alliance trimmed its position in Splunk Inc. (NASDAQ:SPLK) by 27.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,606 shares of the software company’s stock after selling 1,003 shares during the period. Wealth Alliance’s holdings in Splunk were worth $397,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Schechter Investment Advisors LLC increased its holdings in Splunk by 4.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 1,570 shares of the software company’s stock worth $239,000 after acquiring an additional 71 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Splunk by 1.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,018 shares of the software company’s stock worth $764,000 after buying an additional 91 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Splunk by 9.6% in the third quarter. V Square Quantitative Management LLC now owns 1,107 shares of the software company’s stock worth $162,000 after buying an additional 97 shares in the last quarter. Harbour Investments Inc. boosted its stake in Splunk by 30.4% during the third quarter. Harbour Investments Inc. now owns 442 shares of the software company’s stock valued at $65,000 after buying an additional 103 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its position in Splunk by 3.6% during the first quarter. Meiji Yasuda Life Insurance Co now owns 3,062 shares of the software company’s stock worth $455,000 after buying an additional 105 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPLK has been the topic of several recent analyst reports. StockNews.com assumed coverage on Splunk in a report on Friday. They issued a “buy” rating on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $135.31.

Splunk Price Performance

SPLK opened at $156.90 on Friday. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The stock’s 50 day simple moving average is $156.33 and its 200 day simple moving average is $152.55. The firm has a market cap 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 Inc. has a 1 year low of $82.19 and a 1 year high of $156.97.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data 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. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. As a group, analysts predict that Splunk Inc. will post 1.62 earnings per share for the current year.

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.