Sprinklr (NYSE:CXM) Stock Price Down 3.7% – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM) was down 3.7% on Thursday . The company traded as low as $7.64 and last traded at $7.77. Approximately 424,691 shares traded hands during trading, a decline of 81% from the average daily volume of 2,252,306 shares. The stock had previously closed at $8.07.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Rosenblatt Securities dropped their price objective on Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a report on Thursday, September 5th. Morgan Stanley reduced their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Barclays lowered shares of Sprinklr from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $10.00 to $7.00 in a report on Monday, October 7th. Finally, DA Davidson dropped their price target on Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprinklr currently has a consensus rating of “Hold” and a consensus price target of $9.80.

Sprinklr Price Performance

The firm has a 50-day moving average price of $7.50 and a two-hundred day moving average price of $9.10. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 2.41 and a beta of 0.76.

Sprinklr (NYSE:CXM) last issued 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. The firm had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. On average, equities analysts predict that Sprinklr, Inc. will post 0.11 EPS for the current year.

Insiders Place Their Bets

In other news, insider Diane Adams sold 4,282 shares of the stock in a transaction on Monday, September 16th. The stock was 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 of the company’s stock, valued at approximately $3,061,060.20. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total transaction of $101,022.66. Following the completion of the transaction, the chief executive officer now directly owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock worth $2,545,967 in the last quarter. 30.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Sprinklr by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock worth $627,000 after purchasing an additional 1,117 shares during the last quarter. CIBC Asset Management Inc increased 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 valued at $120,000 after acquiring an additional 1,694 shares during the period. Louisiana State Employees Retirement System raised its stake 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 acquiring an additional 1,700 shares during the last quarter. CWM LLC lifted its holdings in shares of Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock worth $35,000 after purchasing an additional 1,904 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Sprinklr by 12.0% in the second quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock worth $220,000 after purchasing an additional 2,450 shares during 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.