Sprinklr, Inc. (NYSE:CXM) Short Interest Down 9.5% in November

Sprinklr, Inc. (NYSE:CXM) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 10,630,000 shares, a decline of 9.5% from the November 15th total of 11,750,000 shares. Based on an average daily trading volume, of 2,560,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 10.5% of the shares of the stock are short sold.

Sprinklr Stock Down 1.3 %

Shares of NYSE CXM traded down $0.12 during midday trading on Tuesday, hitting $9.30. The stock had a trading volume of 3,008,767 shares, compared to its average volume of 2,340,885. The business’s 50 day moving average is $7.94 and its 200-day moving average is $8.50. Sprinklr has a 52 week low of $6.91 and a 52 week high of $14.31. The company has a market cap of $2.36 billion, a P/E ratio of 58.13, a PEG ratio of 3.02 and a beta of 0.81.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $10.50 price target on shares of Sprinklr in a research report on Thursday, December 5th. DA Davidson raised their target price on shares of Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $11.00 price target on shares of Sprinklr in a report on Wednesday, December 11th. KeyCorp cut their price target on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley lowered their price objective on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.13.

Insider Buying and Selling

In other Sprinklr news, insider Diane Adams sold 12,915 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $7.83, for a total transaction of $101,124.45. Following the completion of the sale, the insider now directly owns 376,942 shares in the company, valued at $2,951,455.86. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 15,420 shares of company stock worth $119,907 in the last quarter. 30.12% of the stock is owned by insiders.

Institutional Trading of Sprinklr

A number of institutional investors and hedge funds have recently modified their holdings of CXM. State Street Corp increased its holdings in Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after buying an additional 322,318 shares in the last quarter. Solel Partners LP grew its stake in shares of Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after acquiring an additional 1,176,726 shares during the period. Geode Capital Management LLC raised its holdings in shares of Sprinklr by 11.9% during the third quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after purchasing an additional 295,638 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its position in Sprinklr by 63.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock valued at $20,494,000 after purchasing an additional 827,375 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after purchasing an additional 1,694,900 shares during the last quarter. 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.