Convergence Investment Partners LLC Purchases 190 Shares of Splunk Inc. (NASDAQ:SPLK)

by · The Cerbat Gem

Convergence Investment Partners LLC raised its position in shares of Splunk Inc. (NASDAQ:SPLK – Free Report) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,366 shares of the software company’s stock after purchasing an additional 190 shares during the period. Convergence Investment Partners LLC’s holdings in Splunk were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Splunk by 104,016.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,487,055 shares of the software company’s stock valued at $2,173,472,000 after acquiring an additional 20,467,378 shares during the period. Starboard Value LP purchased a new position in shares of Splunk in the 4th quarter valued at $160,720,000. Norges Bank purchased a new position in shares of Splunk in the 4th quarter valued at $83,922,000. Clearbridge Investments LLC increased its holdings in shares of Splunk by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 5,753,569 shares of the software company’s stock valued at $855,038,000 after acquiring an additional 628,288 shares during the period. Finally, Rokos Capital Management LLP increased its holdings in shares of Splunk by 90.7% in the 2nd quarter. Rokos Capital Management LLP now owns 729,463 shares of the software company’s stock valued at $78,151,000 after acquiring an additional 346,951 shares during the period. 87.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPLK has been the topic of a number of analyst reports. BTIG Research downgraded Splunk from a “buy” rating to a “neutral” rating in a report on Tuesday, September 26th. StockNews.com initiated coverage on Splunk in a research note on Sunday, January 14th. They set a “buy” rating on the stock. Truist Financial downgraded Splunk from a “buy” rating to a “hold” rating and set a $157.00 target price on the stock. in a research note on Wednesday, November 29th. Piper Sandler downgraded Splunk from an “overweight” rating to a “neutral” rating in a research note on Monday, October 2nd. Finally, Daiwa Capital Markets downgraded Splunk from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Twenty-four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Splunk has a consensus rating of “Hold” and an average price target of $134.00.

Get Our Latest Report on Splunk

Splunk Stock Up 0.3 %

SPLK opened at $153.25 on Friday. Splunk Inc. has a fifty-two week low of $82.19 and a fifty-two week high of $153.34. 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 fifty day moving average of $151.77 and a two-hundred day moving average of $133.97. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of 364.88, a PEG ratio of 5.79 and a beta of 1.06.

Splunk (NASDAQ:SPLK – Get Free Report) last released its quarterly earnings data on Tuesday, November 28th. The software company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.47. Splunk had a net margin of 2.66% and a negative return on equity of 689.21%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, research analysts expect that Splunk Inc. will post 0.9 earnings per share for the current year.

Insider Transactions at Splunk

In other news, SVP Scott Morgan sold 5,017 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total transaction of $763,988.76. Following the completion of the sale, the senior vice president now owns 89,265 shares of the company’s stock, valued at $13,593,274.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Splunk Profile

(Free Report)

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.

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