Sprinklr (NYSE:CXM) Trading Down 6.2% – What’s Next?

Shares of Sprinklr, Inc. (NYSE:CXM) dropped 6.2% during mid-day trading on Friday . The stock traded as low as $7.14 and last traded at $7.16. Approximately 292,889 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,026,380 shares. The stock had previously closed at $7.63.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CXM shares. Rosenblatt Securities boosted their price target on Sprinklr from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. William Blair cut Sprinklr from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research report on Friday, February 7th. Morgan Stanley lifted their target price on Sprinklr from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. Finally, Scotiabank upped their price target on Sprinklr from $8.50 to $9.00 and gave the stock a “sector perform” rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.38.

Sprinklr Stock Down 4.9 %

The stock has a fifty day moving average of $8.53 and a 200-day moving average of $8.30. The stock has a market cap of $1.86 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

Insider Transactions at Sprinklr

In other news, Director Neeraj Agrawal sold 26,053 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.28, for a total value of $241,771.84. Following the completion of the transaction, the director now owns 968,306 shares in the company, valued at $8,985,879.68. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Sprinklr by 2,484.4% in the first quarter. GAMMA Investing LLC now owns 30,703 shares of the company’s stock valued at $256,000 after purchasing an additional 29,515 shares in the last quarter. Novem Group purchased a new position in shares of Sprinklr in the 4th quarter worth $246,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sprinklr by 20.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 250,633 shares of the company’s stock worth $2,118,000 after purchasing an additional 41,919 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Sprinklr in the 4th quarter valued at $2,128,000. Finally, Two Sigma Advisers LP boosted its position in shares of Sprinklr by 18.2% in the fourth quarter. Two Sigma Advisers LP now owns 86,300 shares of the company’s stock worth $729,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 40.19% of the company’s stock.

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.