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Should You Consider Investing in Splunk Inc. (SPLK)?

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Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. Mid-cap stocks as a whole advanced in the first quarter of 2021. However, there was a rather considerable disparity among the two style indexes, as the Russell Midcap® Growth Index (down 0.57%) significantly lagged its Russell Midcap® Value Index (13.45%) counterpart. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Carillon Tower Advisers, in their Q1 2021 investor letter, mentioned Splunk Inc. (NASDAQ: SPLK), and shared their insights on the company. Splunk Inc. is a San Francisco, California-based software company that currently has a $19.6 billion market capitalization. Since the beginning of the year, SPLK delivered a -29.45% return, while its 12-month gains are down by -17.44%. As of May 04, 2021, the stock closed at $119.85 per share.

Here is what Carillon Tower Advisers has to say about Splunk Inc. in their Q1 2021 investor letter:

"Splunk provides software that analyzes data from technology infrastructure such as servers and network equipment, from which insights can be gleaned about business trends, security, and operations. The firm delivered quarterly results in line with expectations, with its cloud segment performing better than expected. However, Splunk’s on-premise segment remains pressured by cautious customers delaying capacity expansion plans in the near term. We expect contract renewals to pick up in the second half of the year, as the world reopens."

Software
Software

Our calculations show that Splunk Inc. (NASDAQ: SPLK) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Splunk Inc. was in 47 hedge fund portfolios, compared to 44 funds in the third quarter. SPLK delivered a -30.03% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.