Boothe Investment Group Inc. purchased a new position in Splunk Inc. (NASDAQ:SPLK) during the first quarter, HoldingsChannel reports. The firm purchased 44,472 shares of the software company’s stock, valued at approximately $6,025,000. Splunk accounts for approximately 3.5% of Boothe Investment Group Inc.’s portfolio, making the stock its 15th biggest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in Splunk by 1.7% in the 4th quarter. Federated Hermes Inc. now owns 799,730 shares of the software company’s stock worth $135,866,000 after acquiring an additional 13,084 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Splunk by 7.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 20,455 shares of the software company’s stock valued at $3,475,000 after buying an additional 1,458 shares during the last quarter. Founders Financial Securities LLC bought a new stake in shares of Splunk during the fourth quarter valued at approximately $289,000. Aviva PLC grew its position in shares of Splunk by 3.3% during the 4th quarter. Aviva PLC now owns 53,016 shares of the software company’s stock worth $9,007,000 after buying an additional 1,691 shares in the last quarter. Finally, Valicenti Advisory Services Inc. lifted its holdings in Splunk by 54.0% during the fourth quarter. Valicenti Advisory Services Inc. now owns 33,425 shares of the software company’s stock worth $5,679,000 after buying an additional 11,715 shares during the period. Institutional investors own 90.47% of the company’s stock.
Several analysts have weighed in on SPLK shares. Credit Suisse Group started coverage on shares of Splunk in a research report on Tuesday, March 16th. They set an “outperform” rating and a $200.00 target price on the stock. Barclays decreased their target price on shares of Splunk from $220.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday, March 10th. Needham & Company LLC lowered their price target on Splunk from $275.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, March 10th. Bank of America began coverage on shares of Splunk in a report on Thursday. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Zacks Investment Research raised Splunk from a “strong sell” rating to a “hold” rating and set a $180.00 price target on the stock in a research note on Tuesday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the stock. Splunk presently has a consensus rating of “Buy” and an average target price of $207.77.
Splunk stock traded up $2.50 during midday trading on Thursday, reaching $141.29. The company’s stock had a trading volume of 19,174 shares, compared to its average volume of 2,319,390. The company has a market cap of $22.85 billion, a P/E ratio of -27.81 and a beta of 1.44. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 1.41. The business has a 50-day simple moving average of $142.83 and a 200-day simple moving average of $173.57. Splunk Inc. has a fifty-two week low of $120.58 and a fifty-two week high of $225.89.
Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, March 2nd. The software company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.35. The business had revenue of $745.08 million for the quarter, compared to analyst estimates of $677.24 million. Splunk had a negative return on equity of 34.13% and a negative net margin of 34.77%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. As a group, equities analysts forecast that Splunk Inc. will post -4 earnings per share for the current year.
Splunk Inc develops and markets software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. The company offers Splunk Enterprise, a real-time data platform, which include collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud, a cloud service for machine data.
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