CenterBook Partners LP Sells 155,960 Shares of Sprinklr, Inc. (NYSE:CXM)

CenterBook Partners LP cut its stake in shares of Sprinklr, Inc. (NYSE:CXM - Free Report) by 49.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,236 shares of the company's stock after selling 155,960 shares during the period. CenterBook Partners LP owned about 0.06% of Sprinklr worth $1,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Sprinklr by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,097,526 shares of the company's stock valued at $9,164,000 after buying an additional 42,234 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Sprinklr by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 14,498,855 shares of the company's stock valued at $121,065,000 after acquiring an additional 1,138,542 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Sprinklr by 69.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,524 shares of the company's stock worth $54,000 after purchasing an additional 2,668 shares in the last quarter. Letko Brosseau & Associates Inc. increased its stake in shares of Sprinklr by 1.0% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,748,875 shares of the company's stock worth $14,603,000 after purchasing an additional 17,275 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Sprinklr in the 1st quarter worth $411,000. 40.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CXM shares. Rosenblatt Securities reiterated a "buy" rating and set a $12.00 target price on shares of Sprinklr in a research report on Thursday, June 5th. DA Davidson lifted their target price on Sprinklr from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. JMP Securities reiterated a "market outperform" rating and set a $17.00 target price on shares of Sprinklr in a research report on Friday, June 27th. Cantor Fitzgerald started coverage on Sprinklr in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $8.00 target price on the stock. Finally, Morgan Stanley lifted their target price on 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 given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.25.

Insider Transactions at Sprinklr

In other news, Director Ragy Thomas sold 3,000,000 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $8.37, for a total value of $25,110,000.00. Following the completion of the sale, the director owned 766,217 shares in the company, valued at approximately $6,413,236.29. This trade represents a 79.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Michael Harvey sold 21,422 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $9.00, for a total transaction of $192,798.00. Following the completion of the transaction, the insider directly owned 681,910 shares in the company, valued at $6,137,190. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,512,762 shares of company stock worth $85,940,959. 60.53% of the stock is currently owned by insiders.

Sprinklr Stock Performance

CXM stock traded up $0.24 during trading on Thursday, hitting $9.02. 2,486,490 shares of the company's stock traded hands, compared to its average volume of 2,057,042. Sprinklr, Inc. has a 52 week low of $6.75 and a 52 week high of $9.93. The business has a fifty day simple moving average of $8.46 and a 200 day simple moving average of $8.39. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.93 and a beta of 0.80.

Sprinklr (NYSE:CXM - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $205.50 million during the quarter, compared to analyst estimates of $201.83 million. Sprinklr had a net margin of 13.57% and a return on equity of 6.86%. Sprinklr's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Research 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.