180 Wealth Advisors LLC Reduces Stock Position in Splunk Inc. (NASDAQ:SPLK)

180 Wealth Advisors LLC cut its stake in Splunk Inc. (NASDAQ:SPLK) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,550 shares of the software company’s stock after selling 531 shares during the period. 180 Wealth Advisors LLC’s holdings in Splunk were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SPLK. Starboard Value LP purchased a new stake in Splunk in the fourth quarter worth about $160,720,000. Norges Bank purchased a new position in shares of Splunk during the fourth quarter valued at approximately $83,922,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of Splunk by 85.6% during the third 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 purchasing an additional 643,000 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Splunk by 12.3% during the first quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after purchasing an additional 628,288 shares during the last quarter. Finally, Rokos Capital Management LLP lifted its holdings in shares of Splunk by 90.7% during the second quarter. Rokos Capital Management LLP now owns 729,463 shares of the software company’s stock valued at $78,151,000 after purchasing an additional 346,951 shares during the last quarter. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of Splunk stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total transaction of $763,988.76. Following the transaction, the senior vice president now owns 89,265 shares in the company, valued at approximately $13,593,274.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Splunk Stock Performance

Shares of Splunk stock remained flat at $156.90 on Friday. 5,546 shares of the stock traded hands, compared to its average volume of 2,084,977. The firm has a 50-day moving average of $155.72 and a 200-day moving average of $151.71. The company has a market capitalization of $26.44 billion, a PE ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1-year low of $82.19 and a 1-year 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.

Splunk (NASDAQ:SPLK) last issued its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.05 by $1.42. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. On average, analysts expect 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.