Magnetar Financial LLC Makes New Investment in Sprinklr, Inc. (NYSE:CXM)

Magnetar Financial LLC purchased a new stake in Sprinklr, Inc. (NYSE:CXM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 26,476 shares of the company’s stock, valued at approximately $224,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after purchasing an additional 322,318 shares during the last quarter. Geode Capital Management LLC increased its stake in Sprinklr by 11.9% during the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock worth $21,560,000 after purchasing an additional 295,638 shares during the period. Bank of New York Mellon Corp increased its stake in Sprinklr by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,494,287 shares of the company’s stock worth $12,627,000 after purchasing an additional 11,513 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Sprinklr by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,055,292 shares of the company’s stock worth $8,917,000 after purchasing an additional 18,021 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Sprinklr by 33.0% in the third quarter. Cerity Partners LLC now owns 991,475 shares of the company’s stock valued at $7,664,000 after purchasing an additional 246,095 shares during the period. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research note on Friday, February 7th. DA Davidson increased their price objective on Sprinklr from $8.00 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Barclays boosted their target price on Sprinklr from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Scotiabank increased their price target on Sprinklr from $8.50 to $9.00 and gave the company a “sector perform” rating in a research report on Thursday, March 13th. Finally, Stifel Nicolaus lifted their price objective on Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.38.

Insider Buying and Selling

In related news, Director Neeraj Agrawal sold 26,053 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the transaction, the director now owns 968,306 shares in the company, valued at $8,985,879.68. This trade represents a 2.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 30.12% of the stock is owned by company insiders.

Sprinklr Trading Down 2.4 %

Shares of NYSE:CXM opened at $8.63 on Monday. The firm has a 50 day simple moving average of $8.78 and a 200-day simple moving average of $8.27. Sprinklr, Inc. has a twelve month low of $6.91 and a twelve month high of $14.32. The company has a market capitalization of $2.19 billion, a PE ratio of 53.91, a P/E/G ratio of 2.31 and a beta of 0.80.

Sprinklr 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.