Sachem Head Capital Management LP Has $48.55 Million Stock Position in Sprinklr, Inc. (NYSE:CXM)

Sachem Head Capital Management LP lowered its holdings in shares of Sprinklr, Inc. (NYSE:CXM - Free Report) by 14.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,745,000 shares of the company's stock after selling 950,000 shares during the period. Sprinklr comprises about 2.7% of Sachem Head Capital Management LP's portfolio, making the stock its 13th biggest holding. Sachem Head Capital Management LP owned about 2.26% of Sprinklr worth $48,545,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CXM. Jefferies Financial Group Inc. increased its holdings in Sprinklr by 96.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,807,400 shares of the company's stock worth $49,073,000 after purchasing an additional 2,851,106 shares in the last quarter. Deutsche Bank AG increased its holdings in Sprinklr by 2.7% in the 4th quarter. Deutsche Bank AG now owns 2,792,583 shares of the company's stock worth $23,597,000 after purchasing an additional 73,405 shares in the last quarter. Norges Bank acquired a new stake in shares of Sprinklr in the fourth quarter valued at about $16,477,000. Federated Hermes Inc. increased its stake in shares of Sprinklr by 1.6% in the fourth quarter. Federated Hermes Inc. now owns 1,728,384 shares of the company's stock valued at $14,605,000 after buying an additional 27,694 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Sprinklr by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,494,287 shares of the company's stock valued at $12,627,000 after buying an additional 11,513 shares during the period. Institutional investors and hedge funds own 40.19% of the company's stock.

Analysts Set New Price Targets

CXM has been the subject of several recent research reports. Rosenblatt Securities increased their price target on Sprinklr from $10.50 to $12.00 and gave the company a "buy" rating in a research note on Thursday, March 13th. JMP Securities reissued a "market outperform" rating and issued a $17.00 price target on shares of Sprinklr in a research note on Friday, February 7th. Scotiabank increased their price target on Sprinklr from $8.50 to $9.00 and gave the company a "sector perform" rating in a research note on Thursday, March 13th. Morgan Stanley decreased their price target on Sprinklr from $11.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson decreased their price target on Sprinklr from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Sprinklr has an average rating of "Hold" and a consensus target price of $10.00.

Insider Activity

In other news, Director Neeraj Agrawal sold 26,053 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.28, for a total value of $241,771.84. Following the transaction, the director now owns 968,306 shares in the company, valued at $8,985,879.68. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 60.53% of the company's stock.

Sprinklr Stock Performance

Shares of Sprinklr stock opened at $8.43 on Friday. Sprinklr, Inc. has a 52 week low of $6.75 and a 52 week high of $12.69. The stock has a 50 day moving average price of $8.00 and a two-hundred day moving average price of $8.36. The stock has a market capitalization of $2.16 billion, a PE ratio of 52.66, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

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.

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