Bristlecone Advisors LLC Has $3.56 Million Stake in Splunk Inc. (NASDAQ:SPLK)

Bristlecone Advisors LLC decreased its stake in Splunk Inc. (NASDAQ:SPLK) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,383 shares of the software company’s stock after selling 3,696 shares during the quarter. Bristlecone Advisors LLC’s holdings in Splunk were worth $3,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SPLK. Raleigh Capital Management Inc. boosted its stake in Splunk by 546.2% in the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after purchasing an additional 142 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Splunk in the third quarter worth about $33,000. Quarry LP bought a new stake in shares of Splunk in the second quarter worth about $41,000. Venturi Wealth Management LLC acquired a new position in shares of Splunk during the third quarter worth about $42,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Splunk during the third quarter worth about $44,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Wall Street Analyst Weigh In

SPLK has been the subject of several recent research reports. StockNews.com initiated coverage on Splunk in a research report on Wednesday. They set a “buy” rating for the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $135.31.

Splunk Price Performance

Shares of NASDAQ SPLK remained flat at $156.90 during mid-day trading on Friday. The company had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 15.61. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97. The firm 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 firm’s fifty day simple moving average is $155.72 and its 200 day simple moving average is $151.71.

Splunk (NASDAQ:SPLK) last released its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Splunk

In related news, SVP Scott Morgan sold 5,017 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the completion of the sale, the senior vice president now directly owns 89,265 shares of the company’s stock, valued at approximately $13,593,274.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

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.