Sea Cliff Partners Management LP Makes New Investment in Sprinklr, Inc. (NYSE:CXM)

Sea Cliff Partners Management LP acquired a new stake in Sprinklr, Inc. (NYSE:CXM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,040 shares of the company’s stock, valued at approximately $866,000. Sprinklr makes up about 0.3% of Sea Cliff Partners Management LP’s portfolio, making the stock its 14th largest holding.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock valued at $187,105,000 after buying an additional 3,575,001 shares during the last quarter. Cadian Capital Management LP increased its holdings in Sprinklr by 29.9% in the fourth quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock valued at $175,304,000 after buying an additional 3,355,566 shares during the last quarter. Federated Hermes Inc. increased its holdings in Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock valued at $16,320,000 after buying an additional 1,694,900 shares during the last quarter. Solel Partners LP increased its holdings in Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock valued at $35,526,000 after buying an additional 1,176,726 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. increased its holdings in Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after buying an additional 827,375 shares during the last quarter. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Sprinklr Stock Performance

CXM stock opened at $7.64 on Friday. Sprinklr, Inc. has a one year low of $7.23 and a one year high of $17.14. The company has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $10.34. The stock has a market capitalization of $1.94 billion, a P/E ratio of 36.36, a PEG ratio of 2.25 and a beta of 0.78.

Insider Activity

In other news, insider Diane Adams sold 4,282 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 transaction of $33,528.06. Following the completion of the sale, the insider now directly owns 390,940 shares of the company’s stock, valued at approximately $3,061,060.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sprinklr news, insider Diane Adams sold 4,282 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 $33,528.06. Following the transaction, the insider now owns 390,940 shares in the company, valued at approximately $3,061,060.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Arun Pattabhiraman sold 10,291 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $80,578.53. Following the completion of the transaction, the chief marketing officer now owns 448,947 shares in the company, valued at approximately $3,515,255.01. The disclosure for this sale can be found here. Insiders sold 351,937 shares of company stock valued at $2,675,185 in the last ninety days. Company insiders own 30.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CXM shares. Morgan Stanley dropped their target price on Sprinklr from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Barclays dropped their price objective on Sprinklr from $11.00 to $10.00 and set an “overweight” rating on the stock 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. KeyCorp dropped their price objective on Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Citigroup dropped their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Sprinklr has a consensus rating of “Hold” and a consensus target price of $10.30.

Sprinklr 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.