Lindbrook Capital LLC Increases Stock Holdings in Splunk Inc. (NASDAQ:SPLK)

Lindbrook Capital LLC raised its stake in Splunk Inc. (NASDAQ:SPLK) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004 shares of the software company’s stock after purchasing an additional 117 shares during the period. Lindbrook Capital LLC’s holdings in Splunk were worth $153,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. grew its position in shares of Splunk by 546.2% during the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after acquiring an additional 142 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Splunk during the third quarter worth approximately $33,000. Venturi Wealth Management LLC purchased a new position in shares of Splunk during the third quarter worth approximately $42,000. First Command Advisory Services Inc. purchased a new position in shares of Splunk during the third quarter worth approximately $44,000. Finally, Webster Bank N. A. purchased a new position in shares of Splunk during the fourth quarter worth approximately $44,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPLK has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Splunk in a research report on Friday, April 19th. They set a “buy” rating on the stock. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three 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, Splunk has an average rating of “Hold” and an average target price of $135.31.

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Wednesday. The company has a market capitalization of $26.44 billion, a PE 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. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97. The stock has a fifty day simple moving average of $156.47 and a 200-day simple moving average of $152.86.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $1.42. The business had revenue of $1.49 billion during 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%. On average, equities research analysts expect that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

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.