Westbourne Investment Advisors Inc. Has $3.60 Million Holdings in Splunk Inc. (NASDAQ:SPLK)

Westbourne Investment Advisors Inc. decreased its stake in Splunk Inc. (NASDAQ:SPLK) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,657 shares of the software company’s stock after selling 4,103 shares during the quarter. Splunk accounts for about 1.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 28th largest position. Westbourne Investment Advisors Inc.’s holdings in Splunk were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. raised its holdings 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 during the period. Orion Capital Management LLC acquired a new stake in Splunk during the 3rd quarter worth $33,000. Quarry LP acquired a new stake in Splunk during the 2nd quarter worth $41,000. Venturi Wealth Management LLC acquired a new position in Splunk in the third quarter valued at about $42,000. Finally, First Command Advisory Services Inc. acquired a new position in Splunk in the third quarter valued at about $44,000. Institutional investors own 87.56% of the company’s stock.

Splunk Price Performance

Shares of SPLK remained flat at $156.90 during mid-day trading on Thursday. 90 shares of the stock traded hands, compared to its average volume of 2,084,977. 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 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 stock has a 50 day moving average of $155.12 and a 200-day moving average of $149.94. Splunk Inc. has a 12 month low of $82.19 and a 12 month high of $156.97.

Splunk (NASDAQ:SPLK) last announced its quarterly earnings data 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 firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. Analysts forecast that Splunk Inc. will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Splunk news, SVP Scott Morgan sold 5,017 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $152.28, for a total value of $763,988.76. Following the transaction, the senior vice president now directly owns 89,265 shares of the company’s stock, valued at approximately $13,593,274.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SPLK shares. StockNews.com initiated coverage on Splunk in a research note on Tuesday. They set a “buy” rating for the company. TheStreet raised Splunk from a “c” rating to a “b” rating in a research note on Tuesday, February 27th. Finally, Truist Financial cut Splunk from a “buy” rating to a “hold” rating and set a $157.00 price objective for the company. in a research report on Wednesday, November 29th. Twenty-three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.