Picton Mahoney Asset Management Increases Holdings in Splunk Inc. (NASDAQ:SPLK)

Picton Mahoney Asset Management raised its stake in Splunk Inc. (NASDAQ:SPLK) by 157.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 360,000 shares of the software company’s stock after acquiring an additional 220,000 shares during the quarter. Splunk accounts for about 1.5% of Picton Mahoney Asset Management’s holdings, making the stock its 4th largest position. Picton Mahoney Asset Management’s holdings in Splunk were worth $54,847,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SPLK. Raleigh Capital Management Inc. boosted its stake in Splunk by 546.2% in the third quarter. Raleigh Capital Management Inc. now owns 168 shares of the software company’s stock worth $25,000 after purchasing an additional 142 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Splunk during the third quarter valued at $33,000. Venturi Wealth Management LLC acquired a new position in shares of Splunk during the third quarter valued at $42,000. Webster Bank N. A. acquired a new position in shares of Splunk during the fourth quarter valued at $44,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Splunk during the third quarter valued at $44,000. 87.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPLK shares. TheStreet raised Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com started coverage on Splunk in a research note on Sunday. They set a “buy” rating on the stock. Twenty-three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Splunk has an average rating of “Hold” and a consensus target price of $135.31.

Splunk Stock Performance

Shares of NASDAQ SPLK remained flat at $156.90 during mid-day trading on Tuesday. The stock had a trading volume of 5,546 shares, compared to its average volume of 2,084,977. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The firm’s fifty day moving average is $156.77 and its two-hundred day moving average is $153.51. Splunk Inc. has a 52 week low of $82.19 and a 52 week high of $156.97.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $1.42. The company had revenue of $1.49 billion for 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%. Equities research analysts predict that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

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.