Splunk Inc. (NASDAQ:SPLK) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in Splunk Inc. (NASDAQ:SPLK) by 55.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,310 shares of the software company’s stock after selling 11,455 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Splunk were worth $1,417,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its holdings in shares of Splunk by 12.3% during the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after purchasing an additional 628,288 shares during the period. Legal & General Group Plc increased its stake in Splunk by 8.0% during the 4th quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock valued at $198,246,000 after buying an additional 170,233 shares during the period. Geode Capital Management LLC increased its stake in Splunk by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 2,207,458 shares of the software company’s stock valued at $211,337,000 after buying an additional 80,045 shares during the period. Starboard Value LP bought a new stake in shares of Splunk during the 4th quarter worth about $160,720,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Splunk by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,729,887 shares of the software company’s stock worth $252,996,000 after acquiring an additional 131,909 shares during the period. 87.56% of the stock is currently owned by institutional investors and hedge funds.

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $156.90 on Thursday. The company’s fifty day moving average is $156.27 and its two-hundred day moving average is $152.52. The company 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. Splunk Inc. has a 12-month low of $82.19 and a 12-month high of $156.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61.

Splunk (NASDAQ:SPLK) last posted its quarterly 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. 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 for the quarter, compared to analyst estimates of $1.26 billion. Equities analysts expect that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com began coverage on Splunk in a research note on Thursday, April 11th. They set a “buy” rating for the company. Twenty-three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.