Sprinklr (NYSE:CXM) Stock Price Up 3% – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM) was up 3% during mid-day trading on Thursday . The stock traded as high as $7.85 and last traded at $7.84. Approximately 367,036 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,226,154 shares. The stock had previously closed at $7.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald cut their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. KeyCorp reduced their price target on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. 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 research note on Thursday, September 5th. DA Davidson cut their price objective 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, JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sprinklr presently has an average rating of “Hold” and a consensus price target of $10.00.

Sprinklr Stock Performance

The company’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $9.24. The stock has a market cap of $1.92 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76.

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

Insider Activity at Sprinklr

In related news, insider Diane Adams sold 4,282 shares of the company’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 transaction of $33,528.06. Following the sale, the insider now directly owns 390,940 shares in the company, valued at approximately $3,061,060.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sprinklr news, insider Diane Adams sold 4,282 shares of the firm’s 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 completion of the transaction, the insider now owns 390,940 shares in the company, valued at $3,061,060.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $101,022.66. Following the sale, the chief executive officer now owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Sprinklr during the third quarter valued at $231,000. Quest Partners LLC boosted its position in shares of Sprinklr by 103.5% during the 3rd quarter. Quest Partners LLC now owns 44,441 shares of the company’s stock valued at $344,000 after acquiring an additional 22,601 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Sprinklr by 17.0% in the third quarter. Victory Capital Management Inc. now owns 61,518 shares of the company’s stock worth $476,000 after purchasing an additional 8,928 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Sprinklr in the third quarter valued at approximately $129,000. Finally, Entropy Technologies LP lifted its position in Sprinklr by 18.2% during the third quarter. Entropy Technologies LP now owns 46,088 shares of the company’s stock valued at $356,000 after purchasing an additional 7,095 shares during the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.