Sprinklr (NYSE:CXM) Shares Gap Down – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $8.29, but opened at $7.83. Sprinklr shares last traded at $8.15, with a volume of 350,087 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CXM. Wells Fargo & Company cut Sprinklr from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Tuesday. 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. Cantor Fitzgerald reduced their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. KeyCorp reduced their price target on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Citigroup reduced their price target on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Sprinklr has a consensus rating of “Hold” and an average target price of $9.80.

Sprinklr Stock Down 1.0 %

The stock has a 50-day simple moving average of $7.52 and a 200-day simple moving average of $9.18. The firm has a market capitalization of $2.08 billion, a PE ratio of 45.56, a P/E/G ratio of 2.26 and a beta of 0.76.

Sprinklr (NYSE:CXM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $197.21 million during the quarter, compared to analyst estimates of $194.58 million. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. Equities analysts forecast that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Sprinklr

In related news, major shareholder Roger H. Lee sold 225,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total transaction of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares in the company, valued at $3,794,068.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Roger H. Lee sold 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the transaction, the insider now directly owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the transaction, the insider now directly owns 739,799 shares in the company, valued at $5,792,626.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 338,480 shares of company stock worth $2,545,967. Company insiders own 30.12% of the company’s stock.

Institutional Investors Weigh In On Sprinklr

A number of institutional investors have recently bought and sold shares of CXM. Cerity Partners LLC boosted its holdings in shares of Sprinklr by 33.0% during the 3rd quarter. Cerity Partners LLC now owns 991,475 shares of the company’s stock valued at $7,664,000 after purchasing an additional 246,095 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sprinklr by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,037,271 shares of the company’s stock valued at $8,018,000 after purchasing an additional 97,066 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Sprinklr during the 3rd quarter valued at about $231,000. Quest Partners LLC lifted its holdings in shares of Sprinklr by 103.5% in the 3rd quarter. Quest Partners LLC now owns 44,441 shares of the company’s stock valued at $344,000 after acquiring an additional 22,601 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sprinklr by 17.0% in the 3rd quarter. Victory Capital Management Inc. now owns 61,518 shares of the company’s stock valued at $476,000 after acquiring an additional 8,928 shares during the last quarter. 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.