E Fund Management Co. Ltd. Makes New $221,000 Investment in Splunk Inc. (NASDAQ:SPLK)

E Fund Management Co. Ltd. acquired a new stake in Splunk Inc. (NASDAQ:SPLK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,450 shares of the software company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. bought a new position in Splunk during the third quarter worth $209,000. Brown Advisory Inc. boosted its holdings in shares of Splunk by 123.2% during the 3rd quarter. Brown Advisory Inc. now owns 10,389 shares of the software company’s stock worth $1,519,000 after buying an additional 5,734 shares during the period. Advisor Partners II LLC grew its stake in Splunk by 5.7% in the 3rd quarter. Advisor Partners II LLC now owns 2,794 shares of the software company’s stock valued at $409,000 after buying an additional 151 shares during the last quarter. Park Avenue Securities LLC bought a new position in Splunk in the 3rd quarter valued at about $282,000. Finally, CENTRAL TRUST Co lifted its position in Splunk by 47.0% during the third quarter. CENTRAL TRUST Co now owns 438 shares of the software company’s stock worth $64,000 after acquiring an additional 140 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on SPLK shares. StockNews.com initiated coverage on Splunk in a research report on Sunday, May 5th. They issued a “buy” rating on the stock. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three investment 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, Splunk currently 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. 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 PE ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. The company’s fifty day simple moving average is $156.79 and its 200 day simple moving average is $153.54. Splunk Inc. has a 12-month low of $82.19 and a 12-month high of $156.97.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share (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 company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. As a group, sell-side analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current fiscal 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.