Sprinklr (NYSE:CXM) Shares Down 2.5% – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM) was down 2.5% during mid-day trading on Friday . The company traded as low as $7.47 and last traded at $7.53. Approximately 149,269 shares traded hands during trading, a decline of 93% from the average daily volume of 2,230,458 shares. The stock had previously closed at $7.72.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CXM. KeyCorp dropped their price target on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company decreased their price target on Sprinklr from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Barclays cut shares of Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Monday, October 7th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a research note on Thursday, September 5th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Sprinklr Price Performance

The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76. The firm’s 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $9.22.

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 business had revenue of $197.21 million for 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 EPS for the current fiscal year.

Insider Transactions at Sprinklr

In related news, insider Diane Adams sold 12,915 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total value of $101,124.45. Following the sale, the insider now directly owns 376,942 shares of the company’s stock, valued at approximately $2,951,455.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Arun Pattabhiraman sold 10,291 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 value of $80,578.53. Following the sale, the chief marketing officer now directly owns 448,947 shares in the company, valued at $3,515,255.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Diane Adams sold 12,915 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total value of $101,124.45. Following the sale, the insider now directly owns 376,942 shares in the company, valued at approximately $2,951,455.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock valued at $2,545,967 in the last 90 days. 30.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 3,575,001 shares in the last quarter. Solel Partners LP grew 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 acquiring an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in Sprinklr by 63.5% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after acquiring an additional 827,375 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Sprinklr by 107,818.1% during the 2nd 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 holdings in shares of 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 last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.