Sprinklr (NYSE:CXM) Shares Down 1.3% – Here’s Why

Sprinklr, Inc. (NYSE:CXM)’s share price traded down 1.3% on Tuesday . The company traded as low as $8.11 and last traded at $8.20. 129,492 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,272,651 shares. The stock had previously closed at $8.31.

Analysts Set New Price Targets

CXM has been the subject of a number of research analyst reports. Cantor Fitzgerald decreased their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research note 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. DA Davidson lowered their price objective on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Rosenblatt Securities dropped their price target on Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Finally, Citigroup reduced their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Sprinklr has a consensus rating of “Hold” and an average target price of $9.61.

Sprinklr Stock Down 1.3 %

The business’s 50-day simple moving average is $7.54 and its two-hundred day simple moving average is $8.88. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 2.48 and a beta of 0.76.

Sprinklr (NYSE:CXM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $197.21 million during the quarter, compared to analysts’ expectations of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. On average, analysts expect that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

Insider Activity

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the completion of the sale, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 514,799 shares in the company, valued at $3,794,068.63. This trade represents a 30.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock worth $2,545,967 in the last quarter. Corporate insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of institutional investors have recently added to or reduced their stakes in CXM. CWM LLC increased its holdings in shares of Sprinklr by 111.0% during 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. acquired a new stake in Sprinklr during the third quarter worth $105,000. CIBC Asset Management Inc raised its position in Sprinklr by 15.6% in the second 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 during the period. GSA Capital Partners LLP purchased a new position in shares of Sprinklr during the 3rd quarter worth $129,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of Sprinklr during the 3rd quarter worth about $142,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

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.