Westbourne Investment Advisors Inc. Reduces Position in Splunk Inc. (NASDAQ:SPLK)

Westbourne Investment Advisors Inc. trimmed its position in Splunk Inc. (NASDAQ:SPLK) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,657 shares of the software company’s stock after selling 4,103 shares during the period. Splunk accounts for approximately 1.4% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 28th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Splunk were worth $3,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carmignac Gestion purchased a new position in shares of Splunk in the third quarter worth about $6,248,000. Nordea Investment Management AB raised its position in Splunk by 682.1% during the 4th quarter. Nordea Investment Management AB now owns 84,838 shares of the software company’s stock worth $12,909,000 after buying an additional 73,990 shares during the last quarter. DNB Asset Management AS lifted its stake in Splunk by 25.8% during the 4th quarter. DNB Asset Management AS now owns 48,043 shares of the software company’s stock valued at $7,319,000 after acquiring an additional 9,847 shares during the period. Capula Management Ltd purchased a new stake in shares of Splunk in the 3rd quarter valued at $2,486,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Splunk in the third quarter worth $320,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Splunk in a research report on Tuesday. They set a “buy” rating for the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a report on Tuesday, February 27th. Finally, Truist Financial lowered Splunk from a “buy” rating to a “hold” rating and set a $157.00 target price on the stock. in a report on Wednesday, November 29th. Twenty-three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Splunk presently has a consensus rating of “Hold” and an average target price of $135.31.

Insider Transactions at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of Splunk stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the completion of the transaction, the senior vice president now directly owns 89,265 shares in the company, valued at $13,593,274.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Splunk Price Performance

Shares of SPLK stock remained flat at $156.90 on Thursday. The company had a trading volume of 90 shares, compared to its average volume of 2,084,977. The firm has a 50-day moving average of $155.12 and a 200 day moving average of $149.94. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 124.52, a P/E/G 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 (NASDAQ:SPLK) last announced its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share 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 firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.26 billion. On average, equities analysts forecast that Splunk Inc. will post 1.62 EPS 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.