Maryland State Retirement & Pension System Purchases 344 Shares of Splunk Inc. (NASDAQ:SPLK)

Maryland State Retirement & Pension System increased its holdings in Splunk Inc. (NASDAQ:SPLK) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,099 shares of the software company’s stock after buying an additional 344 shares during the period. Maryland State Retirement & Pension System’s holdings in Splunk were worth $1,843,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. lifted its stake in Splunk by 85.6% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock worth $203,872,000 after acquiring an additional 643,000 shares during the period. National Bank of Canada FI raised its holdings in Splunk by 17,450.0% during the fourth quarter. National Bank of Canada FI now owns 340,821 shares of the software company’s stock valued at $51,900,000 after acquiring an additional 338,879 shares during the period. Federated Hermes Inc. grew its stake in Splunk by 48.8% during the third quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock valued at $123,415,000 after acquiring an additional 276,742 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Splunk by 1,234.5% in the third quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock valued at $40,938,000 after purchasing an additional 258,941 shares in the last quarter. Finally, abrdn plc raised its position in Splunk by 144.7% during the fourth quarter. abrdn plc now owns 369,213 shares of the software company’s stock valued at $56,250,000 after purchasing an additional 218,311 shares during the period. Institutional investors own 87.56% of the company’s stock.

Splunk Price Performance

Shares of SPLK stock remained flat at $156.90 during trading hours on Wednesday. The company’s stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The firm 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. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The company’s fifty day moving average is $156.77 and its 200 day moving average is $153.51. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data 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. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. Sell-side analysts predict that Splunk Inc. will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

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

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.