California Public Employees Retirement System Boosts Stock Holdings in Splunk Inc. (NASDAQ:SPLK)

California Public Employees Retirement System increased its position in Splunk Inc. (NASDAQ:SPLK) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 286,961 shares of the software company’s stock after acquiring an additional 5,033 shares during the period. California Public Employees Retirement System owned about 0.17% of Splunk worth $43,719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in shares of Splunk by 133.2% during the 4th quarter. Handelsbanken Fonder AB now owns 86,194 shares of the software company’s stock valued at $13,132,000 after acquiring an additional 49,225 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Splunk by 5.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,082 shares of the software company’s stock valued at $3,517,000 after purchasing an additional 1,111 shares during the period. Signaturefd LLC boosted its holdings in Splunk by 8.8% in the fourth quarter. Signaturefd LLC now owns 1,485 shares of the software company’s stock worth $226,000 after purchasing an additional 120 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Splunk by 13.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the software company’s stock worth $153,000 after purchasing an additional 117 shares during the last quarter. Finally, abrdn plc grew its position in Splunk by 144.7% in the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock worth $56,250,000 after purchasing an additional 218,311 shares during the period. 87.56% of the stock is owned by institutional investors.

Splunk Stock Performance

Shares of SPLK opened at $156.90 on Friday. The firm has a market cap of $26.44 billion, a P/E ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. 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 Inc. has a 1 year low of $82.19 and a 1 year high of $156.97. The company has a 50 day simple moving average of $156.58 and a two-hundred day simple moving average of $152.98.

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 during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. On average, equities analysts expect that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPLK has been the topic of several research analyst reports. StockNews.com began coverage on Splunk in a report on Saturday. They set a “buy” rating on the stock. TheStreet raised Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently 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.