Sprinklr (NYSE:CXM) Stock Price Down 1.1% - Here's What Happened

Sprinklr, Inc. (NYSE:CXM - Get Free Report) was down 1.1% during trading on Tuesday . The stock traded as low as $7.77 and last traded at $8.20. Approximately 763,203 shares changed hands during trading, a decline of 66% from the average daily volume of 2,239,862 shares. The stock had previously closed at $8.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CXM shares. Rosenblatt Securities decreased their price objective on Sprinklr from $14.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, September 3rd. Morgan Stanley decreased their price target on Sprinklr from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, September 5th. Citigroup decreased their price target on Sprinklr from $11.00 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 issued a $17.00 price objective on shares of Sprinklr in a research report on Thursday, September 5th. Finally, Wells Fargo & Company cut Sprinklr from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Sprinklr has an average rating of "Hold" and a consensus target price of $9.80.

Sprinklr Stock Performance

The firm has a 50-day moving average of $7.52 and a 200-day moving average of $9.18. The firm has a market capitalization of $2.08 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

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

Insiders Place Their Bets

In other Sprinklr news, major shareholder Roger H. Lee sold 225,000 shares of the stock in a transaction that occurred on 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 owns 514,799 shares in the company, valued at approximately $3,794,068.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Roger H. Lee sold 225,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 514,799 shares in the company, valued at $3,794,068.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the completion of the transaction, the chief executive officer now owns 1,051,182 shares of the company's stock, valued at approximately $8,230,755.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Sprinklr in the 2nd quarter worth $553,000. Teachers Retirement System of The State of Kentucky purchased a new position in Sprinklr during the first quarter valued at $494,000. Vanguard Group Inc. lifted its position in Sprinklr by 30.6% during the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company's stock valued at $187,105,000 after purchasing an additional 3,575,001 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Sprinklr during the first quarter valued at $1,012,000. Finally, Horrell Capital Management Inc. lifted its position in shares of Sprinklr by 31.7% in the third 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 in the last quarter. 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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