Short Interest in Sprinklr, Inc. (NYSE:CXM) Declines By 7.0%

Sprinklr, Inc. (NYSE:CXM) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 7,930,000 shares, a decrease of 7.0% from the September 30th total of 8,530,000 shares. Approximately 7.7% of the company’s stock are short sold. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 5.0 days.

Sprinklr Stock Performance

Sprinklr stock traded up $0.06 during mid-day trading on Thursday, hitting $7.43. 1,086,873 shares of the company traded hands, compared to its average volume of 2,188,006. Sprinklr has a one year low of $6.91 and a one year high of $17.14. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The stock has a fifty day moving average price of $7.70 and a 200-day moving average price of $9.40.

Sprinklr (NYSE:CXM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million during the quarter, compared to the consensus estimate of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. Sell-side analysts predict that Sprinklr will post 0.11 EPS for the current year.

Insider Buying and Selling at Sprinklr

In related news, major shareholder Roger H. Lee sold 225,000 shares of Sprinklr stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the sale, the insider now directly owns 514,799 shares in the company, valued at approximately $3,794,068.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at $8,230,755.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares of the company’s stock, valued at $3,794,068.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 338,480 shares of company stock worth $2,545,967. Insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

Several institutional investors have recently modified their holdings of CXM. CWM LLC lifted its position in Sprinklr by 111.0% in the 2nd quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after buying an additional 1,904 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Sprinklr in the 3rd quarter worth approximately $105,000. CIBC Asset Management Inc boosted its stake in shares of Sprinklr by 15.6% in the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after purchasing an additional 1,694 shares in the last quarter. GW Henssler & Associates Ltd. bought a new position in shares of Sprinklr during the 3rd quarter valued at $142,000. Finally, Simplicity Wealth LLC purchased a new position in Sprinklr in the 2nd quarter worth $148,000. 40.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CXM has been the topic of several research reports. Cantor Fitzgerald lowered their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley dropped their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. Wells Fargo & Company dropped their price objective on Sprinklr from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Finally, Citigroup cut their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sprinklr has an average rating of “Hold” and an average target price of $10.00.

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.