Bank Julius Baer & Co. Ltd Zurich Sells 14,370 Shares of Splunk Inc. (NASDAQ:SPLK)

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 74.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,847 shares of the software company’s stock after selling 14,370 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Splunk were worth $738,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SPLK. Raleigh Capital Management Inc. lifted its position in Splunk by 546.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after buying an additional 142 shares during the last quarter. Orion Capital Management LLC bought a new stake in Splunk in the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC bought a new stake in Splunk in the 3rd quarter worth approximately $42,000. Webster Bank N. A. bought a new stake in Splunk in the 4th quarter worth approximately $44,000. Finally, First Command Advisory Services Inc. bought a new stake in Splunk in the 3rd quarter worth approximately $44,000. Institutional investors own 87.56% of the company’s stock.

Analysts Set New Price Targets

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

Splunk Stock Performance

NASDAQ:SPLK opened at $156.90 on Friday. 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 stock has a 50-day moving average price of $156.58 and a 200 day moving average price of $153.03. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.26 billion. Equities research analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

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.