Sprinklr (NYSE:CXM) Sets New 52-Week Low After Insider Selling

Sprinklr, Inc. (NYSE:CXM) shares hit a new 52-week low during mid-day trading on Wednesday following insider selling activity. The company traded as low as $7.32 and last traded at $7.32, with a volume of 6116 shares traded. The stock had previously closed at $7.36.

Specifically, major shareholder Roger H. Lee sold 225,000 shares of the firm’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 sale, the insider now owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Roger H. Lee sold 44,884 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $7.83, for a total transaction of $351,441.72. Following the completion of the transaction, the insider now owns 739,799 shares in the company, valued at $5,792,626.17. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CXM. DA Davidson lowered their target price on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. 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. Barclays reduced their target price on Sprinklr from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Cantor Fitzgerald cut their price target on Sprinklr from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Rosenblatt Securities reduced their price objective on Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Sprinklr has an average rating of “Hold” and an average target price of $10.30.

Sprinklr Stock Up 2.9 %

The stock has a fifty day moving average price of $9.00 and a 200-day moving average price of $10.71. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78.

Hedge Funds Weigh In On Sprinklr

Institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Sprinklr in the 1st quarter worth $28,000. CWM LLC raised its holdings in Sprinklr by 111.0% during 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. Quest Partners LLC purchased a new position in Sprinklr during the fourth quarter worth about $115,000. CIBC Asset Management Inc lifted its position in Sprinklr by 15.6% in the second quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after purchasing an additional 1,694 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in Sprinklr in the 4th quarter valued at approximately $161,000. 40.19% of the stock is owned by institutional investors and hedge funds.

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.