Octavia Wealth Advisors LLC Invests $441,000 in Splunk Inc. (NASDAQ:SPLK)

Octavia Wealth Advisors LLC bought a new position in shares of Splunk Inc. (NASDAQ:SPLK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,897 shares of the software company’s stock, valued at approximately $441,000.

Other institutional investors have also made changes to their positions in the company. MetLife Investment Management LLC bought a new stake in shares of Splunk in the first quarter worth $1,527,000. Raymond James Trust N.A. increased its stake in shares of Splunk by 34.4% in the first quarter. Raymond James Trust N.A. now owns 4,957 shares of the software company’s stock worth $737,000 after buying an additional 1,268 shares during the last quarter. Prudential PLC bought a new stake in shares of Splunk in the first quarter worth $357,000. National Pension Service increased its stake in shares of Splunk by 8.1% in the first quarter. National Pension Service now owns 251,984 shares of the software company’s stock worth $37,447,000 after buying an additional 18,834 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Splunk in the first quarter worth $89,000. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Stock Performance

SPLK stock opened at $156.90 on Wednesday. The company has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. The company has a 50-day simple moving average of $156.20 and a 200 day simple moving average of $152.49. Splunk Inc. has a fifty-two week low of $82.19 and a fifty-two week high of $156.97. 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 (NASDAQ:SPLK) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.26 billion. Sell-side analysts predict that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPLK. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com began coverage on shares of Splunk in a research note on Thursday, April 11th. They set a “buy” rating for the company. Twenty-three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.31.

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.