Comerica Bank Sells 3,983 Shares of Sprinklr, Inc. (NYSE:CXM)

Comerica Bank decreased its position in Sprinklr, Inc. (NYSE:CXM) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,069 shares of the company’s stock after selling 3,983 shares during the quarter. Comerica Bank’s holdings in Sprinklr were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CXM. Norges Bank bought a new stake in Sprinklr in the 4th quarter worth approximately $16,477,000. Susquehanna Fundamental Investments LLC bought a new stake in Sprinklr in the 4th quarter worth approximately $3,786,000. JPMorgan Chase & Co. lifted its position in Sprinklr by 224.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 628,661 shares of the company’s stock worth $4,860,000 after buying an additional 434,920 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Sprinklr in the 4th quarter worth approximately $3,422,000. Finally, CenterBook Partners LP bought a new stake in Sprinklr in the 4th quarter worth approximately $2,680,000. Institutional investors own 40.19% of the company’s stock.

Sprinklr Stock Performance

CXM opened at $8.43 on Friday. Sprinklr, Inc. has a 52-week low of $6.75 and a 52-week high of $12.69. The stock has a market capitalization of $2.16 billion, a PE ratio of 52.66, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The stock’s 50 day moving average price is $8.00 and its 200-day moving average price is $8.36.

Insider Activity

In other news, Director Neeraj Agrawal sold 26,053 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the transaction, the director now directly owns 968,306 shares of the company’s stock, valued at approximately $8,985,879.68. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 60.53% of the company’s stock.

Wall Street Analyst Weigh In

CXM has been the subject of a number of recent research reports. Rosenblatt Securities boosted their target price on Sprinklr from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. Morgan Stanley lowered their price objective on Sprinklr from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. William Blair downgraded Sprinklr from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on Sprinklr from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, April 22nd. Finally, DA Davidson lowered their price objective on Sprinklr from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.00.

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.