Clearline Capital LP Buys New Stake in Sprinklr, Inc. (NYSE:CXM)

Clearline Capital LP purchased a new position in shares of Sprinklr, Inc. (NYSE:CXM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,691 shares of the company’s stock, valued at approximately $353,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Sprinklr by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock worth $627,000 after buying an additional 1,117 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Sprinklr by 15.6% during the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after acquiring an additional 1,694 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Sprinklr by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock worth $580,000 after purchasing an additional 1,700 shares in the last quarter. CWM LLC increased its position in shares of Sprinklr by 111.0% during the 2nd 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. Finally, Commonwealth Equity Services LLC lifted its holdings in Sprinklr by 12.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock valued at $220,000 after purchasing an additional 2,450 shares during the last quarter. 40.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CXM. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sprinklr in a report on Thursday, September 5th. Morgan Stanley cut their price objective on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Barclays cut Sprinklr from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $10.00 to $7.00 in a report on Monday, October 7th. Scotiabank initiated coverage on Sprinklr in a report on Tuesday, November 19th. They issued a “sector perform” rating and a $7.70 price target for the company. Finally, Citigroup decreased their price objective on shares of Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Two investment 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. According to data from MarketBeat, Sprinklr presently has a consensus rating of “Hold” and an average price target of $9.61.

Insider Buying and Selling

In other Sprinklr 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 value of $1,658,250.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ragy Thomas sold 12,902 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $101,022.66. Following the sale, the chief executive officer now directly owns 1,051,182 shares in the company, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 338,480 shares of company stock valued at $2,545,967 in the last 90 days. 30.12% of the stock is owned by insiders.

Sprinklr Stock Performance

Shares of Sprinklr stock opened at $8.24 on Monday. The firm has a fifty day moving average of $7.57 and a two-hundred day moving average of $8.79. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 2.46 and a beta of 0.76. Sprinklr, Inc. has a 52 week low of $6.91 and a 52 week high of $17.14.

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

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.