Sprinklr (NYSE:CXM) Stock Price Down 1% - Here's What Happened

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s stock price traded down 1% on Wednesday . The company traded as low as $8.07 and last traded at $8.13. 259,982 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,245,628 shares. The stock had previously closed at $8.21.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CXM shares. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. DA Davidson reduced their target price on shares of Sprinklr from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Barclays downgraded shares of Sprinklr from an "overweight" rating to an "underweight" rating and lowered their price target for the stock from $10.00 to $7.00 in a research note on Monday, October 7th. Cantor Fitzgerald reduced their price objective on Sprinklr from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on Sprinklr from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, September 5th. Two 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.com, the stock currently has a consensus rating of "Hold" and an average target price of $9.80.

Sprinklr Stock Performance

The stock has a market capitalization of $2.02 billion, a P/E ratio of 44.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76. The stock has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $9.15.

Sprinklr (NYSE:CXM - Get Free Report) last announced its quarterly 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 company had revenue of $197.21 million for the quarter, compared to analysts' expectations of $194.58 million. Equities analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Diane Adams sold 12,915 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 376,942 shares of the company's stock, valued at approximately $2,951,455.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Sprinklr news, insider Diane Adams sold 12,915 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $7.83, for a total transaction of $101,124.45. Following the sale, the insider now directly owns 376,942 shares of the company's stock, valued at $2,951,455.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 44,884 shares of Sprinklr stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the sale, the insider now owns 739,799 shares in the company, valued at approximately $5,792,626.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,480 shares of company stock valued at $2,545,967. Company insiders own 30.12% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in shares of Sprinklr by 111.0% in the second quarter. CWM LLC now owns 3,620 shares of the company's stock valued at $35,000 after acquiring an additional 1,904 shares during the period. Everence Capital Management Inc. bought a new position in Sprinklr during the 3rd quarter valued at about $105,000. CIBC Asset Management Inc raised its position in Sprinklr by 15.6% in 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 during the period. GSA Capital Partners LLP bought a new stake in Sprinklr in the third quarter worth about $129,000. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Sprinklr during the third quarter valued at approximately $142,000. 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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