Sprinklr (NYSE:CXM) Shares Gap Down Following Insider Selling

Sprinklr, Inc. (NYSE:CXM)’s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $8.57, but opened at $8.16. Sprinklr shares last traded at $8.15, with a volume of 449,518 shares trading hands.

Specifically, Director Neeraj Agrawal sold 121,060 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.74, for a total transaction of $1,058,064.40. Following the completion of the sale, the director now owns 200,244 shares in the company, valued at $1,750,132.56. This trade represents a 37.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Neeraj Agrawal sold 378,940 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $8.76, for a total transaction of $3,319,514.40. Following the sale, the director now owns 321,304 shares of the company’s stock, valued at approximately $2,814,623.04. The trade was a 54.12% decrease in their position. The disclosure for this sale can be found here. In other news, major shareholder Roger H. Lee sold 285,439 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $8.68, for a total transaction of $2,477,610.52. Following the completion of the sale, the insider now owns 229,360 shares in the company, valued at $1,990,844.80. This trade represents a 55.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CXM shares. Wells Fargo & Company raised their price objective on shares of Sprinklr from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, June 5th. Morgan Stanley raised their price objective on shares of Sprinklr from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Sprinklr in a report on Thursday, June 5th. Cantor Fitzgerald started coverage on shares of Sprinklr in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $8.00 price target for the company. Finally, DA Davidson raised their price target on shares of Sprinklr from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.25.

Sprinklr Trading Down 5.4%

The company has a market capitalization of $2.08 billion, a P/E ratio of 50.69, a P/E/G ratio of 2.31 and a beta of 0.81. The business’s fifty day moving average price is $7.94 and its 200-day moving average price is $8.45.

Sprinklr (NYSE:CXM) last issued its earnings results on Wednesday, June 4th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $205.50 million for the quarter, compared to analysts’ expectations of $201.83 million. Sprinklr had a net margin of 5.59% and a return on equity of 7.84%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. As a group, equities research analysts forecast that Sprinklr, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Sprinklr

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Sprinklr by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company’s stock worth $33,000 after purchasing an additional 1,928 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sprinklr by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,364 shares of the company’s stock worth $988,000 after purchasing an additional 2,478 shares during the period. GAMMA Investing LLC raised its position in Sprinklr by 209.5% in the 1st quarter. GAMMA Investing LLC now owns 3,677 shares of the company’s stock worth $31,000 after purchasing an additional 2,489 shares during the period. EPIQ Capital Group LLC increased its position in shares of Sprinklr by 26.2% in the fourth quarter. EPIQ Capital Group LLC now owns 12,841 shares of the company’s stock valued at $109,000 after acquiring an additional 2,664 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Sprinklr by 10.6% in the fourth quarter. NewEdge Advisors LLC now owns 28,212 shares of the company’s stock valued at $238,000 after acquiring an additional 2,700 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.