Sage Rhino Capital LLC Sells 500 Shares of Splunk Inc. (NASDAQ:SPLK)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in 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 valued at $25,000 after acquiring an additional 142 shares during the last quarter. Orion Capital Management LLC purchased a new position in Splunk in the third quarter valued at about $33,000. Venturi Wealth Management LLC purchased a new stake in shares of Splunk during the 3rd quarter valued at approximately $42,000. First Command Advisory Services Inc. purchased a new stake in shares of Splunk during the 3rd quarter valued at approximately $44,000. Finally, Webster Bank N. A. purchased a new stake in shares of Splunk during the 4th quarter valued at approximately $44,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SPLK. TheStreet upgraded shares of Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. StockNews.com began coverage on shares of Splunk in a research note on Saturday. 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 company’s stock. According to MarketBeat, Splunk currently has a consensus rating of “Hold” and a consensus target price of $135.31.

Splunk Stock Performance

Shares of SPLK stock remained flat at $156.90 on Tuesday. 5,546 shares of the company traded hands, 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. Splunk Inc. has a 52 week low of $82.19 and a 52 week high of $156.97. The firm’s 50 day moving average is $156.61 and its two-hundred day moving average is $153.13. The stock has a market cap of $26.44 billion, a PE ratio of 124.52, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $1.42. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a net margin of 6.26% and a return on equity of 32,117.42%. As a group, sell-side analysts anticipate that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Splunk Company 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.