Sprinklr, Inc. (NYSE:CXM) Major Shareholder Morad Elhafed Sells 30,000 Shares

Sprinklr, Inc. (NYSE:CXM) major shareholder Morad Elhafed sold 30,000 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $12.25, for a total transaction of $367,500.00. Following the completion of the sale, the insider now directly owns 50,952 shares of the company’s stock, valued at $624,162. This represents a 37.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Sprinklr Stock Performance

Shares of CXM opened at $8.54 on Friday. The firm’s 50-day simple moving average is $8.29 and its two-hundred day simple moving average is $8.46. Sprinklr, Inc. has a fifty-two week low of $6.91 and a fifty-two week high of $14.31. The stock has a market cap of $2.17 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 3.02 and a beta of 0.81.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CXM. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sprinklr by 33.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,029 shares of the company’s stock valued at $347,000 after purchasing an additional 9,074 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Sprinklr in the second quarter worth $434,000. Commonwealth Equity Services LLC raised its position in shares of Sprinklr by 12.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock valued at $220,000 after buying an additional 2,450 shares in the last quarter. CIBC Asset Management Inc lifted 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 during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Sprinklr by 66.5% in the second quarter. Victory Capital Management Inc. now owns 52,590 shares of the company’s stock worth $506,000 after buying an additional 21,012 shares during the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Scotiabank boosted their price objective on shares of Sprinklr from $7.70 to $8.50 and gave the stock a “sector perform” rating in a research note on Thursday, December 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $9.00 target price on shares of Sprinklr in a research report on Thursday, December 5th. Morgan Stanley lowered their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.13.

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.