New York Life Investment Management LLC Boosts Stock Position in Splunk Inc. (NASDAQ:SPLK)

New York Life Investment Management LLC boosted its position in shares of Splunk Inc. (NASDAQ:SPLK) by 4,634.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,941 shares of the software company’s stock after acquiring an additional 132,091 shares during the period. New York Life Investment Management LLC’s holdings in Splunk were worth $20,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jericho Capital Asset Management L.P. grew its holdings 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 valued at $203,872,000 after buying an additional 643,000 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Splunk by 48.8% in the 3rd quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after buying an additional 276,742 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Splunk by 1,234.5% during the third 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 during the last quarter. abrdn plc raised its holdings in Splunk by 144.7% during the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock valued at $56,250,000 after buying an additional 218,311 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Splunk by 229.2% in 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 during the last quarter. 87.56% of the stock is owned by hedge funds and other institutional investors.

Splunk Price Performance

SPLK remained flat at $156.90 on Wednesday. The company had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. 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 Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. The business has a fifty day simple moving average of $156.64 and a 200 day simple moving average of $153.20. The company has a market capitalization 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 (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping 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 business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPLK. TheStreet raised shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com initiated coverage on Splunk in a report on Saturday. They set a “buy” rating for the company. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $135.31.

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.