Short Interest in Sprinklr, Inc. (NYSE:CXM) Decreases By 7.0%

Sprinklr, Inc. (NYSE:CXM) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 7,930,000 shares, a decline of 7.0% from the September 30th total of 8,530,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is currently 5.0 days. Currently, 7.7% of the company’s shares are sold short.

Analyst Ratings Changes

CXM has been the topic of several recent research reports. Barclays lowered shares of Sprinklr from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $7.00 in a research note on Monday, October 7th. Cantor Fitzgerald cut their price objective on Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. DA Davidson decreased their target price on shares of Sprinklr from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research report on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Sprinklr from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Sprinklr Stock Performance

CXM traded up $0.06 on Thursday, reaching $7.43. The company had a trading volume of 1,086,873 shares, compared to its average volume of 2,188,006. The company’s fifty day moving average is $7.73 and its 200 day moving average is $9.41. The stock has a market cap of $1.88 billion, a P/E ratio of 41.39, a P/E/G ratio of 2.10 and a beta of 0.76. Sprinklr has a fifty-two week low of $6.91 and a fifty-two week high of $17.14.

Sprinklr (NYSE:CXM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Sprinklr had a return on equity of 8.40% and a net margin of 6.54%. The business had revenue of $197.21 million during the quarter, compared to analysts’ expectations of $194.58 million. On average, sell-side analysts expect that Sprinklr will post 0.11 EPS for the current year.

Insider Activity

In other Sprinklr news, major shareholder Roger H. Lee sold 44,884 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $7.83, for a total value of $351,441.72. Following the completion of the sale, the insider now directly owns 739,799 shares in the company, valued at $5,792,626.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Roger H. Lee sold 44,884 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $7.83, for a total value of $351,441.72. Following the sale, the insider now directly owns 739,799 shares of the company’s stock, valued at approximately $5,792,626.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Arun Pattabhiraman sold 10,291 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $80,578.53. Following the completion of the transaction, the chief marketing officer now directly owns 448,947 shares of the company’s stock, valued at approximately $3,515,255.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,480 shares of company stock valued at $2,545,967 in the last quarter. Company insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

Institutional investors and hedge funds have recently modified their holdings of the business. Horrell Capital Management Inc. boosted its holdings in Sprinklr by 31.7% in the 3rd quarter. Horrell Capital Management Inc. now owns 685,000 shares of the company’s stock valued at $5,295,000 after purchasing an additional 165,000 shares during the period. GW Henssler & Associates Ltd. bought a new position in shares of Sprinklr during the third quarter worth approximately $142,000. LB Partners LLC acquired a new stake in shares of Sprinklr in the third quarter valued at approximately $304,000. Everence Capital Management Inc. bought a new stake in shares of Sprinklr in the third quarter valued at approximately $105,000. Finally, Handelsbanken Fonder AB grew its position in Sprinklr by 41.9% during the third quarter. Handelsbanken Fonder AB now owns 27,100 shares of the company’s stock worth $209,000 after buying an additional 8,000 shares in the last quarter. 40.19% of the stock is currently owned by institutional investors and hedge funds.

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.