Allianz Asset Management GmbH Makes New $276,000 Investment in Sprinklr, Inc. (NYSE:CXM)

Key Points

• Allianz Asset Management GmbH made a new investment of $276,000 in Sprinklr, Inc., acquiring 33,100 shares during the first quarter of the year.
• Director Neeraj Agrawal recently sold 378,940 shares, while Director Ragy Thomas sold 3,000,000 shares, indicating significant insider selling activity.
• Analysts have set varied price targets for Sprinklr, with consensus indicating a "Hold" rating and an average target price of $10.25.

Allianz Asset Management GmbH purchased a new stake in Sprinklr, Inc. (NYSE:CXM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 33,100 shares of the company's stock, valued at approximately $276,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Sprinklr by 209.5% in the 1st quarter. GAMMA Investing LLC now owns 3,677 shares of the company's stock worth $31,000 after purchasing an additional 2,489 shares during the period. NewEdge Advisors LLC raised its stake in Sprinklr by 10.6% during the fourth quarter. NewEdge Advisors LLC now owns 28,212 shares of the company's stock worth $238,000 after buying an additional 2,700 shares during the last quarter. Ancora Advisors LLC acquired a new position in Sprinklr in the fourth quarter valued at $34,000. Price T Rowe Associates Inc. MD boosted its position in Sprinklr by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,970 shares of the company's stock valued at $482,000 after acquiring an additional 4,194 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Sprinklr by 5.3% during the first quarter. Victory Capital Management Inc. now owns 91,714 shares of the company's stock valued at $766,000 after acquiring an additional 4,644 shares during the last quarter. Institutional investors and hedge funds own 40.19% of the company's stock.

Insider Buying and Selling

In other Sprinklr news, Director Neeraj Agrawal sold 378,940 shares of Sprinklr stock in a transaction on Monday, June 9th. The shares were sold at an average price of $8.76, for a total transaction of $3,319,514.40. Following the transaction, the director directly owned 321,304 shares of the company's stock, valued at $2,814,623.04. The trade was a 54.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ragy Thomas sold 3,000,000 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $7.94, for a total transaction of $23,820,000.00. Following the completion of the sale, the director owned 974,286 shares of the company's stock, valued at approximately $7,735,830.84. The trade was a 75.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,512,691 shares of company stock valued at $85,942,764. 60.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CXM. Rosenblatt Securities reissued a "buy" rating and issued a $12.00 price objective on shares of Sprinklr in a research report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on Sprinklr in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $8.00 target price for the company. Wells Fargo & Company increased their price target on Sprinklr from $6.00 to $7.00 and gave the stock an "underweight" rating in a report on Thursday, June 5th. DA Davidson lifted their price objective on shares of Sprinklr from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Finally, Morgan Stanley boosted their target price on shares of Sprinklr from $8.00 to $10.00 and gave the company an "equal weight" rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sprinklr presently has a consensus rating of "Hold" and an average target price of $10.25.

Sprinklr Trading Down 4.9%

CXM opened at $8.57 on Monday. Sprinklr, Inc. has a 1-year low of $6.75 and a 1-year high of $9.69. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.89 and a beta of 0.81. The company's fifty day moving average price is $8.63 and its two-hundred day moving average price is $8.43.

Sprinklr (NYSE:CXM - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Sprinklr had a net margin of 13.57% and a return on equity of 6.86%. The company had revenue of $205.50 million during the quarter, compared to the consensus estimate of $201.83 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Sprinklr, Inc. will post 0.1 earnings per share 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.

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