Hanson & Doremus Investment Management Buys 334 Shares of Splunk Inc. (NASDAQ:SPLK)

Hanson & Doremus Investment Management raised its position in Splunk Inc. (NASDAQ:SPLK) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,706 shares of the software company’s stock after acquiring an additional 334 shares during the period. Hanson & Doremus Investment Management’s holdings in Splunk were worth $2,850,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Splunk by 10,816.4% during the fourth quarter. International Assets Investment Management LLC now owns 152,502 shares of the software company’s stock worth $23,234,000 after acquiring an additional 151,105 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Splunk by 12.3% in the 4th quarter. Bleakley Financial Group LLC now owns 1,667 shares of the software company’s stock valued at $254,000 after acquiring an additional 183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Splunk by 166.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,205 shares of the software company’s stock valued at $26,083,000 after acquiring an additional 106,952 shares in the last quarter. Smith Salley & Associates increased its position in shares of Splunk by 4.6% during the 4th quarter. Smith Salley & Associates now owns 5,659 shares of the software company’s stock valued at $862,000 after purchasing an additional 250 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Splunk by 2.5% during the 4th quarter. Arizona State Retirement System now owns 44,001 shares of the software company’s stock valued at $6,704,000 after purchasing an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on Splunk in a report on Wednesday, April 3rd. They issued a “buy” rating for the company. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Splunk has an average rating of “Hold” and a consensus price target of $135.31.

Splunk Price Performance

NASDAQ:SPLK remained flat at $156.90 during mid-day trading on Monday. The company’s stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The company has a 50 day moving average of $155.72 and a two-hundred day moving average of $151.93. Splunk Inc. has a twelve month low of $82.19 and a twelve month high of $156.97. The company has a debt-to-equity ratio of 15.61, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market cap of $26.44 billion, a price-to-earnings ratio of 124.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating the consensus estimate of $1.05 by $1.42. The business 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%. Equities analysts predict that Splunk Inc. will post 1.62 EPS for the current year.

Insider Activity

In related news, SVP Scott Morgan sold 5,017 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $152.28, for a total value of $763,988.76. Following the transaction, the senior vice president now owns 89,265 shares of the company’s stock, valued at $13,593,274.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.