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

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

Analyst Ratings Changes

A number of brokerages recently commented on CXM. Wells Fargo & Company downgraded shares of Sprinklr from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $8.00 to $6.00 in a research note on Tuesday, November 12th. Barclays lowered shares of Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $10.00 to $7.00 in a research note on Monday, October 7th. Citigroup reduced their price objective on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Morgan Stanley dropped 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 report on Thursday, September 5th. Finally, Rosenblatt Securities decreased their price objective on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Two equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.61.

Sprinklr Stock Up 0.6 %

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

Sprinklr (NYSE:CXM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The firm had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. As a group, research analysts forecast that Sprinklr, Inc. will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Sprinklr

In related news, CFO Manish Sarin sold 22,738 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $178,038.54. Following the transaction, the chief financial officer now directly owns 748,918 shares in the company, valued at $5,864,027.94. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Roger H. Lee sold 44,884 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total transaction of $351,441.72. Following the transaction, the insider now owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. This represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 338,480 shares of company stock valued at $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Trading of Sprinklr

A number of large investors have recently bought and sold shares of CXM. Vanguard Group Inc. boosted its position in shares of Sprinklr by 30.6% in the 1st quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after purchasing an additional 3,575,001 shares during the last quarter. State Street Corp lifted its holdings in shares of Sprinklr by 7.2% during the third quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after buying an additional 322,318 shares in the last quarter. Solel Partners LP raised its stake in 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Sprinklr by 11.9% in the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after buying an additional 295,638 shares during the period. Finally, Letko Brosseau & Associates Inc. grew its position in Sprinklr by 63.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock worth $20,494,000 after buying an additional 827,375 shares in the last quarter. 40.19% of the stock is currently owned by institutional investors.

Sprinklr Company Profile

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.