Readystate Asset Management LP Reduces Stock Position in Splunk Inc. (NASDAQ:SPLK)

Readystate Asset Management LP lessened its holdings in Splunk Inc. (NASDAQ:SPLK) by 99.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,556 shares of the software company’s stock after selling 29,051,244 shares during the quarter. Readystate Asset Management LP’s holdings in Splunk were worth $8,007,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SPLK. Vanguard Group Inc. boosted its stake in Splunk by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 16,363,126 shares of the software company’s stock valued at $2,492,922,000 after acquiring an additional 307,552 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Splunk by 12.3% in the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after acquiring an additional 628,288 shares in the last quarter. FIL Ltd boosted its stake in Splunk by 86.1% in the fourth quarter. FIL Ltd now owns 4,586,306 shares of the software company’s stock valued at $698,724,000 after acquiring an additional 2,121,811 shares in the last quarter. Norges Bank acquired a new position in Splunk in the fourth quarter valued at $378,850,000. Finally, Legal & General Group Plc boosted its stake in Splunk by 8.0% in the fourth quarter. Legal & General Group Plc now owns 2,302,775 shares of the software company’s stock valued at $198,246,000 after acquiring an additional 170,233 shares in the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports 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 assumed coverage on shares of Splunk in a research note on Thursday, April 11th. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $135.31.

Splunk Price Performance

Splunk stock remained flat at $156.90 during mid-day trading on Wednesday. 5,546 shares of the company’s stock were exchanged, compared to its average volume of 2,084,977. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The company 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. The business’s 50-day simple moving average is $156.27 and its 200-day simple moving average is $152.52.

Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.26 billion. On average, equities analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Splunk Company 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.