Sprinklr (NYSE:CXM) Shares Down 4.7% – Here’s Why

Shares of Sprinklr, Inc. (NYSE:CXM) traded down 4.7% on Tuesday . The stock traded as low as $7.22 and last traded at $7.24. 1,109,767 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,191,873 shares. The stock had previously closed at $7.60.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a report on Thursday, September 5th. Cantor Fitzgerald dropped 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. DA Davidson dropped their price target on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Barclays cut shares of Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company dropped their price target on shares of Sprinklr from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sprinklr has an average rating of “Hold” and a consensus price target of $10.00.

Sprinklr Trading Up 6.6 %

The company has a fifty day simple moving average of $7.58 and a 200-day simple moving average of $9.28. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 42.28, a P/E/G ratio of 2.25 and a beta of 0.76.

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 the consensus estimate of $0.01. The firm had revenue of $197.21 million for the quarter, compared to the consensus estimate of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. As a group, analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

Insider Activity

In other news, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,794,068.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Roger H. Lee sold 44,884 shares of the business’s 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the sale, the insider now directly owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. The trade was a 0.00 % decrease in their position. 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 90 days. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in 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 purchasing an additional 3,575,001 shares during the period. Solel Partners LP boosted its position in Sprinklr by 46.8% during the second 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 period. Letko Brosseau & Associates Inc. boosted 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 purchasing an additional 827,375 shares during the period. Federated Hermes Inc. boosted its position in Sprinklr by 107,818.1% during the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after purchasing an additional 1,694,900 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Sprinklr by 25.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 889,269 shares of the company’s stock worth $8,555,000 after purchasing an additional 178,437 shares during the period. Institutional investors own 40.19% of the company’s stock.

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.