Sprinklr (NYSE:CXM) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Sprinklr, Inc. (NYSE:CXM) saw unusually-high trading volume on Thursday after DA Davidson raised their price target on the stock from $8.00 to $9.50. DA Davidson currently has a neutral rating on the stock. Approximately 1,810,677 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 2,311,000 shares.The stock last traded at $8.53 and had previously closed at $8.64.

Other analysts also recently issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Sprinklr in a report on Thursday, September 5th. Stifel Nicolaus upped their target price on Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup dropped their price target on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Scotiabank began coverage on Sprinklr in a report on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Sprinklr currently has a consensus rating of “Hold” and a consensus price target of $9.97.

Insider Activity at Sprinklr

In related news, CEO Ragy Thomas sold 12,902 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,230,755.06. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Roger H. Lee sold 225,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $7.37, for a total value of $1,658,250.00. Following the completion of the sale, the insider now directly owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. The trade was a 30.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 338,480 shares of company stock valued at $2,545,967 in the last quarter. Insiders own 30.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its holdings in Sprinklr by 111.0% in 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 in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Sprinklr during the 3rd quarter valued at $105,000. CIBC Asset Management Inc boosted its stake in Sprinklr by 15.6% during the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock worth $120,000 after acquiring an additional 1,694 shares in the last quarter. GSA Capital Partners LLP bought a new position in Sprinklr during the third quarter worth $129,000. Finally, GW Henssler & Associates Ltd. bought a new stake in Sprinklr in the third quarter valued at $142,000. 40.19% of the stock is owned by institutional investors and hedge funds.

Sprinklr Stock Up 0.3 %

The stock has a market capitalization of $2.20 billion, a P/E ratio of 54.19, a P/E/G ratio of 2.46 and a beta of 0.81. The firm’s 50 day simple moving average is $7.62 and its two-hundred day simple moving average is $8.71.

Sprinklr (NYSE:CXM) last issued its earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The company had revenue of $197.21 million for the quarter, compared to analyst estimates of $194.58 million. As a group, equities research analysts expect that Sprinklr, Inc. will post 0.11 earnings per share for the current year.

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.