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

Sprinklr, Inc. (NYSE:CXM - Get Free Report)'s share price gapped down before the market opened 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 changing hands.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CXM. Scotiabank boosted their target price on shares of Sprinklr from $8.50 to $9.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $12.00 target price on shares of Sprinklr in a research note on Thursday, June 5th. Cantor Fitzgerald began coverage on shares of Sprinklr in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $8.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 target price on shares of Sprinklr in a research note on Thursday, June 5th. Finally, Morgan Stanley boosted their price target on shares of Sprinklr from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Sprinklr currently has a consensus rating of "Hold" and a consensus target price of $10.25.

Sprinklr Price Performance

The company's 50 day simple moving average is $7.96 and its 200 day simple moving average is $8.45. The stock has a market cap of $2.06 billion, a P/E ratio of 49.75, a P/E/G ratio of 2.31 and a beta of 0.81.

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

Institutional Trading of Sprinklr

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Sprinklr by 209.5% during the 1st quarter. GAMMA Investing LLC now owns 3,677 shares of the company's stock worth $31,000 after buying an additional 2,489 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Sprinklr by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company's stock valued at $33,000 after purchasing an additional 1,928 shares during the period. Ancora Advisors LLC bought a new stake in Sprinklr in the 4th quarter valued at about $34,000. Quarry LP boosted its holdings in Sprinklr by 5,071.8% in the 1st quarter. Quarry LP now owns 7,706 shares of the company's stock valued at $64,000 after purchasing an additional 7,557 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Sprinklr in the 4th quarter valued at about $92,000. Institutional investors own 40.19% of the company's stock.

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.