Sage Rhino Capital LLC Cuts Stake in Splunk Inc. (NASDAQ:SPLK)

Sage Rhino Capital LLC lowered its holdings in shares of Splunk Inc. (NASDAQ:SPLK) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,504 shares of the software company’s stock after selling 500 shares during the quarter. Sage Rhino Capital LLC’s holdings in Splunk were worth $381,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AE Wealth Management LLC purchased a new position in Splunk during the 3rd quarter valued at approximately $245,000. Handelsbanken Fonder AB grew its holdings in Splunk by 6.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 36,969 shares of the software company’s stock valued at $5,407,000 after buying an additional 2,285 shares in the last quarter. Simplicity Solutions LLC purchased a new position in Splunk during the 3rd quarter valued at approximately $217,000. Lake Street Financial LLC purchased a new position in Splunk during the 3rd quarter valued at approximately $222,000. Finally, Cigna Investments Inc. New purchased a new position in Splunk during the 3rd quarter valued at approximately $243,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Splunk Stock Performance

Shares of SPLK stock remained flat at $156.90 on Tuesday. The company had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 15.61. The business has a 50 day moving average of $156.61 and a two-hundred day moving average of $153.13. The company has a market cap of $26.44 billion, a PE ratio of 124.52, a PEG ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 52-week low of $82.19 and a 52-week high of $156.97.

Splunk (NASDAQ:SPLK) last issued its earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. As a group, sell-side analysts predict that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPLK has been the subject of several research analyst reports. StockNews.com initiated coverage on Splunk in a report on Saturday. They set a “buy” rating for the company. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a report 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, the stock has an average rating of “Hold” and a consensus price target of $135.31.

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.