Sprinklr, Inc. (NYSE:CXM) Sees Large Drop in Short Interest

Sprinklr, Inc. (NYSE:CXM) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 10,630,000 shares, a decrease of 9.5% from the November 15th total of 11,750,000 shares. Approximately 10.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,560,000 shares, the short-interest ratio is presently 4.2 days.

Insiders Place Their Bets

In other Sprinklr news, insider Diane Adams sold 12,915 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total transaction of $101,124.45. Following the transaction, the insider now directly owns 376,942 shares in the company, valued at $2,951,455.86. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 15,420 shares of company stock worth $119,907. Corporate insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in Sprinklr by 107,818.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after acquiring an additional 1,694,900 shares during the period. Solel Partners LP grew its stake in shares of Sprinklr by 46.8% in the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after purchasing an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. grew its stake in shares of Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock worth $20,494,000 after purchasing an additional 827,375 shares during the last quarter. State Street Corp grew its stake in shares of Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after purchasing an additional 322,318 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Sprinklr by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after purchasing an additional 295,638 shares during the last quarter. 40.19% of the stock is owned by hedge funds and other institutional investors.

Sprinklr Price Performance

NYSE:CXM traded down $0.12 during trading hours on Tuesday, reaching $9.30. 3,008,767 shares of the company traded hands, compared to its average volume of 2,340,885. The stock has a market cap of $2.36 billion, a P/E ratio of 58.13, a P/E/G ratio of 3.02 and a beta of 0.81. Sprinklr has a 1-year low of $6.91 and a 1-year high of $14.31. The firm’s 50-day moving average is $7.94 and its 200-day moving average is $8.50.

Analysts Set New Price Targets

A number of research firms have issued reports on CXM. KeyCorp decreased their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. DA Davidson raised their price objective on shares of Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Stifel Nicolaus upped their price target on Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley cut their target price on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Finally, Wells Fargo & Company lowered Sprinklr from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $6.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.13.

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.