Sprinklr (NYSE:CXM) Shares Gap Down Following Insider Selling

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s stock price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $8.57, but opened at $8.16. Sprinklr shares last traded at $8.15, with a volume of 449,518 shares traded.

Specifically, Director Neeraj Agrawal sold 121,060 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $8.74, for a total transaction of $1,058,064.40. Following the completion of the sale, the director now owns 200,244 shares of the company's stock, valued at $1,750,132.56. This represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neeraj Agrawal sold 378,940 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $8.76, for a total transaction of $3,319,514.40. Following the completion of the transaction, the director now directly owns 321,304 shares in the company, valued at approximately $2,814,623.04. This represents a 54.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, major shareholder Roger H. Lee sold 285,439 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $8.68, for a total transaction of $2,477,610.52. Following the completion of the sale, the insider now owns 229,360 shares of the company's stock, valued at approximately $1,990,844.80. This represents a 55.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

CXM has been the topic of several recent research reports. DA Davidson boosted their target price on Sprinklr from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Cantor Fitzgerald assumed coverage on Sprinklr in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $8.00 price objective on the stock. Rosenblatt Securities restated a "buy" rating and issued a $12.00 target price on shares of Sprinklr in a report on Thursday, June 5th. Morgan Stanley lifted their price target on Sprinklr from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Finally, Scotiabank boosted their price target on shares of Sprinklr from $8.50 to $9.00 and gave the company a "sector perform" rating in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sprinklr has an average rating of "Hold" and a consensus price target of $10.25.

Sprinklr Trading Down 5.4%

The firm's fifty day moving average is $7.92 and its 200-day moving average is $8.45. The stock has a market capitalization of $2.08 billion, a PE ratio of 50.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.81.

Sprinklr (NYSE:CXM - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $205.50 million for the quarter, compared to the consensus estimate of $201.83 million. Sprinklr had a net margin of 5.59% and a return on equity of 7.84%. The business's revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. As a group, equities analysts predict that Sprinklr, Inc. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Sprinklr by 4.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 260,769 shares of the company's stock valued at $2,177,000 after buying an additional 10,136 shares during the period. S Squared Technology LLC grew its position in Sprinklr by 78.0% in the 1st quarter. S Squared Technology LLC now owns 445,039 shares of the company's stock valued at $3,716,000 after acquiring an additional 195,039 shares in the last quarter. Caxton Associates LLP purchased a new stake in Sprinklr during the first quarter worth about $287,000. PharVision Advisers LLC acquired a new stake in shares of Sprinklr during the first quarter worth about $190,000. Finally, Millennium Management LLC boosted its stake in shares of Sprinklr by 4.6% in the first quarter. Millennium Management LLC now owns 581,361 shares of the company's stock valued at $4,854,000 after purchasing an additional 25,609 shares during the period. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

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.