Sprinklr (NYSE:CXM) Stock Price Down 0.5% – Here’s Why

Shares of Sprinklr, Inc. (NYSE:CXM) were down 0.5% during trading on Wednesday . The stock traded as low as $8.12 and last traded at $8.14. Approximately 845,960 shares changed hands during trading, a decline of 63% from the average daily volume of 2,275,451 shares. The stock had previously closed at $8.18.

Analyst Ratings Changes

CXM has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Scotiabank started coverage on Sprinklr in a research note on Tuesday, November 19th. They set a “sector perform” rating and a $7.70 price objective for the company. DA Davidson reduced their target price on Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Citigroup reduced their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Rosenblatt Securities lowered their target price on Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sprinklr has an average rating of “Hold” and a consensus target price of $9.61.

Sprinklr Trading Up 0.6 %

The firm has a 50-day moving average of $7.54 and a 200-day moving average of $8.88. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 45.22, a P/E/G ratio of 2.48 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. On average, equities research analysts anticipate that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insider Activity

In related news, major shareholder Roger H. Lee sold 44,884 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the sale, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This trade represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Arun Pattabhiraman sold 10,291 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the sale, the chief marketing officer now directly owns 448,947 shares of the company’s stock, valued at $3,515,255.01. This trade represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 338,480 shares of company stock worth $2,545,967 over the last 90 days. 30.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprinklr

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Sprinklr during the second quarter valued at about $553,000. Teachers Retirement System of The State of Kentucky acquired a new position in Sprinklr during the first quarter worth $494,000. Vanguard Group Inc. boosted its position in shares of Sprinklr by 30.6% during the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after buying an additional 3,575,001 shares during the period. Horrell Capital Management Inc. raised its holdings in shares of Sprinklr by 31.7% in the 3rd quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock valued at $5,295,000 after buying an additional 165,000 shares during the period. Finally, CWM LLC boosted its holdings in Sprinklr by 111.0% during the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after acquiring an additional 1,904 shares during the period. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

About Sprinklr

Sprinklr, Inc provides enterprise cloud software products worldwide. The company operates Unified Customer Experience Management platform, a software that enables customer-facing teams to collaborate across internal silos, communicate across digital channels, and leverage a complete suite of capabilities to deliver customer experiences.