Allspring Global Investments Holdings LLC Sells 583,286 Shares of Sprinklr, Inc. (NYSE:CXM)

Allspring Global Investments Holdings LLC cut its position in shares of Sprinklr, Inc. (NYSE:CXM - Free Report) by 99.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,717 shares of the company's stock after selling 583,286 shares during the period. Allspring Global Investments Holdings LLC's holdings in Sprinklr were worth $45,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Cadian Capital Management LP raised its holdings in Sprinklr by 14.7% during the third quarter. Cadian Capital Management LP now owns 11,204,601 shares of the company's stock valued at $155,072,000 after buying an additional 1,434,907 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sprinklr by 13.6% in the 3rd quarter. Vanguard Group Inc. now owns 11,677,600 shares of the company's stock valued at $161,618,000 after acquiring an additional 1,399,510 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sprinklr by 228.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,019,087 shares of the company's stock worth $14,104,000 after purchasing an additional 708,655 shares during the last quarter. Federated Hermes Inc. boosted its position in Sprinklr by 234.5% during the third quarter. Federated Hermes Inc. now owns 775,374 shares of the company's stock worth $10,731,000 after purchasing an additional 543,588 shares during the period. Finally, RK Capital Management LLC acquired a new position in Sprinklr during the third quarter valued at approximately $5,515,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Sprinklr Stock Up 2.2 %

CXM stock traded up $0.26 during midday trading on Wednesday, reaching $11.95. 1,848,240 shares of the company's stock traded hands, compared to its average volume of 2,620,020. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 2.31 and a beta of 0.87. The company has a 50-day simple moving average of $12.52 and a two-hundred day simple moving average of $12.94. Sprinklr, Inc. has a 1-year low of $10.93 and a 1-year high of $17.14.

Sprinklr (NYSE:CXM - Get Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.04. The business had revenue of $194.21 million during the quarter, compared to analysts' expectations of $188.50 million. Sprinklr had a return on equity of 8.15% and a net margin of 7.02%. Equities research analysts forecast that Sprinklr, Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. DA Davidson reiterated a "buy" rating and issued a $16.00 target price on shares of Sprinklr in a report on Monday, April 1st. Rosenblatt Securities increased their target price on Sprinklr from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. Oppenheimer reiterated a "market perform" rating on shares of Sprinklr in a report on Thursday, March 28th. Wells Fargo & Company increased their price target on shares of Sprinklr from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, March 28th. Finally, KeyCorp started coverage on Sprinklr in a report on Thursday, March 21st. They set an "overweight" rating and a $19.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.90.

Insider Activity at Sprinklr

In other Sprinklr news, CMO Arun Pattabhiraman sold 27,859 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $13.03, for a total transaction of $363,002.77. Following the transaction, the chief marketing officer now owns 382,101 shares of the company's stock, valued at approximately $4,978,776.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder R David Tabors sold 319,405 shares of the business's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.10, for a total transaction of $3,864,800.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Arun Pattabhiraman sold 27,859 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $13.03, for a total transaction of $363,002.77. Following the completion of the transaction, the chief marketing officer now directly owns 382,101 shares in the company, valued at $4,978,776.03. The disclosure for this sale can be found here. Insiders sold a total of 495,273 shares of company stock valued at $6,083,127 over the last quarter. Corporate insiders own 40.29% of the company's stock.

Sprinklr Company 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.