Is Splunk (SPLK) Stock a Buy For 2021?

Carillon Eagle Mid Cap Growth Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. You should check out Carillon Eagle Mid Cap Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Carillon Eagle Mid Cap Growth Fund highlighted a few stocks and Splunk Inc (NASDAQ:SPLK) is one of them. Splunk Inc (NASDAQ:SPLK) is a software company. In the last one year, Splunk Inc (NASDAQ:SPLK) stock gained 11.8% and on December 31st it had a closing price of $169.89. Here is what Carillon Eagle Mid Cap Growth Fund said:

“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 company reported inline quarterly results and provided an outlook as expected. The firm is seeing strength in software provided as a service and delivered over the internet, known as cloud software. While COVID-19 has modestly limited management’s near-term visibility, we remain positive on the company’s competitive position and see this pandemic as a longer-term driver of the secular shift towards digital transformation.”


In Q3 2020, the number of bullish hedge fund positions on Splunk Inc (NASDAQ:SPLK) stock decreased by about 10% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in Splunk’s growth potential. Our calculations showed that Splunk Inc (NASDAQ:SPLK) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 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. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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