Sprinklr (NYSE:CXM) Shares Down 1.6% - Here's What Happened

Sprinklr, Inc. (NYSE:CXM - Get Free Report) was down 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CXM. Cantor Fitzgerald dropped their price objective on Sprinklr from $10.00 to $9.00 and set a "neutral" 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 reduced their price objective for the stock from $10.00 to $7.00 in a research report on Monday, October 7th. Wells Fargo & Company downgraded Sprinklr from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $8.00 to $6.00 in a research note on Tuesday. DA Davidson decreased their price target on Sprinklr from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Finally, Citigroup reduced their price objective on Sprinklr from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.80.

Sprinklr Price Performance

The company's 50-day moving average price is $7.50 and its two-hundred day moving average price is $9.13. The company has a market capitalization of $1.95 billion, a P/E ratio of 42.34, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76.

Sprinklr (NYSE:CXM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The company had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. On average, analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Sprinklr

In other news, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the transaction, the chief marketing officer now owns 448,947 shares in the company, valued at $3,515,255.01. This trade represents a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Diane Adams sold 4,282 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $33,528.06. Following the sale, the insider now directly owns 390,940 shares in the company, valued at $3,061,060.20. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock worth $2,545,967 in the last quarter. Insiders own 30.12% of the company's stock.

Institutional Trading of Sprinklr

Several institutional investors and hedge funds have recently made changes to their positions in CXM. SG Americas Securities LLC purchased a new position in shares of Sprinklr during the 2nd quarter valued at about $553,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Sprinklr during the first quarter valued at about $494,000. Vanguard Group Inc. increased its holdings in shares of Sprinklr by 30.6% in 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 during the period. Bayesian Capital Management LP bought a new stake in shares of Sprinklr in the 1st quarter valued at about $1,012,000. Finally, Horrell Capital Management Inc. boosted its holdings in Sprinklr by 31.7% during the 3rd quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company's stock valued at $5,295,000 after acquiring an additional 165,000 shares during the period. Hedge funds and other institutional investors own 40.19% of the company's stock.

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.

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