Migdal Insurance & Financial Holdings Ltd. Sells 11,455 Shares of Splunk Inc. (NASDAQ:SPLK)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Splunk Inc. (NASDAQ:SPLK) by 55.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,310 shares of the software company’s stock after selling 11,455 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Splunk were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. grew its stake in shares of Splunk by 546.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after acquiring an additional 142 shares in the last quarter. Orion Capital Management LLC acquired a new position in Splunk during the third quarter worth $33,000. Quarry LP bought a new position in Splunk in the second quarter valued at $41,000. Venturi Wealth Management LLC acquired a new stake in Splunk in the 3rd quarter valued at $42,000. Finally, First Command Advisory Services Inc. acquired a new stake in Splunk in the 3rd quarter valued at $44,000. 87.56% of the stock is owned by institutional investors and hedge funds.

Splunk Price Performance

Shares of NASDAQ SPLK opened at $156.90 on Thursday. The business’s 50 day moving average is $156.27 and its 200-day moving average is $152.52. The firm has a market cap 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. Splunk Inc. has a 1-year low of $82.19 and a 1-year high of $156.97. 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 (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. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. Equities research analysts predict that Splunk Inc. will post 1.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SPLK. StockNews.com assumed coverage on Splunk in a report on Thursday, April 11th. They issued 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.