Sprinklr (NYSE:CXM) Trading Down 1.6% – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM)’s share price dropped 1.6% during mid-day trading on Friday . The company traded as low as $7.60 and last traded at $7.62. Approximately 303,271 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,258,686 shares. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

CXM has been the subject of several research analyst reports. Citigroup lowered their target price on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. KeyCorp cut their target price on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Cantor Fitzgerald lowered their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a report on Thursday, September 5th. Finally, DA Davidson dropped their target price on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.80.

Sprinklr Stock Performance

The stock has a market cap of $1.94 billion, a P/E ratio of 42.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76. The firm’s fifty day simple moving average is $7.50 and its 200-day simple moving average is $9.09.

Sprinklr (NYSE:CXM) last released its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The business had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Analysts predict that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Roger H. Lee sold 225,000 shares of the firm’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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Diane Adams sold 12,915 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total value of $101,124.45. Following the transaction, the insider now directly owns 376,942 shares in the company, valued at approximately $2,951,455.86. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock valued at $2,545,967 over the last 90 days. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Several hedge funds and other institutional investors have recently modified their holdings of CXM. The Manufacturers Life Insurance Company grew its position in Sprinklr by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock valued at $627,000 after purchasing an additional 1,117 shares during the period. CIBC Asset Management Inc increased its holdings in Sprinklr by 15.6% during the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after purchasing an additional 1,694 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Sprinklr by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock valued at $580,000 after buying an additional 1,700 shares during the last quarter. CWM LLC grew its holdings in Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after buying an additional 1,904 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Sprinklr by 12.0% in 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 during the last quarter. 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.