Bank Julius Baer & Co. Ltd Zurich Decreases Stake in Splunk Inc. (NASDAQ:SPLK)

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Splunk Inc. (NASDAQ:SPLK) by 74.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,847 shares of the software company’s stock after selling 14,370 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Splunk were worth $738,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Jericho Capital Asset Management L.P. lifted its position in Splunk by 85.6% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock worth $203,872,000 after acquiring an additional 643,000 shares in the last quarter. Federated Hermes Inc. lifted its position in Splunk by 48.8% during the 3rd quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after acquiring an additional 276,742 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Splunk by 1,234.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock worth $40,938,000 after acquiring an additional 258,941 shares in the last quarter. abrdn plc lifted its position in Splunk by 144.7% during the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock worth $56,250,000 after acquiring an additional 218,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Splunk by 229.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 308,857 shares of the software company’s stock worth $45,170,000 after acquiring an additional 215,041 shares in the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SPLK. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. StockNews.com started coverage on Splunk in a research report on Saturday. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.31.

Splunk Price Performance

Shares of NASDAQ:SPLK opened at $156.90 on Friday. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The company’s 50-day moving average price is $156.58 and its two-hundred day moving average price is $153.03. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The firm has a market cap of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.26 billion. As a group, research analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

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.