Sprinklr (NYSE:CXM) Stock Price Down 4.1% – Here’s What Happened

Sprinklr, Inc. (NYSE:CXM) fell 4.1% on Monday . The stock traded as low as $8.80 and last traded at $8.77. 717,818 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,939,181 shares. The stock had previously closed at $9.14.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $9.00 price target on shares of Sprinklr in a research note on Thursday, December 5th. Stifel Nicolaus raised their price target on Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Scotiabank raised their price target on Sprinklr from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 13th. DA Davidson raised their price target on Sprinklr from $8.00 to $9.50 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Rosenblatt Securities raised their price target on Sprinklr from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.38.

Sprinklr Stock Performance

The stock has a fifty day moving average price of $8.76 and a 200-day moving average price of $8.27. The firm has a market capitalization of $2.23 billion, a PE ratio of 54.91, a P/E/G ratio of 2.31 and a beta of 0.80.

Insider Buying and Selling

In other Sprinklr news, Director Neeraj Agrawal sold 26,053 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.28, for a total transaction of $241,771.84. Following the sale, the director now owns 968,306 shares in the company, valued at approximately $8,985,879.68. The trade was a 2.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.12% of the stock is owned by company insiders.

Institutional Trading of Sprinklr

Large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. lifted its holdings in shares of Sprinklr by 96.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,807,400 shares of the company’s stock valued at $49,073,000 after buying an additional 2,851,106 shares during the period. State Street Corp grew its stake in Sprinklr by 7.2% in the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock valued at $37,311,000 after acquiring an additional 322,318 shares during the period. Deutsche Bank AG grew its stake in Sprinklr by 2.7% in the 4th quarter. Deutsche Bank AG now owns 2,792,583 shares of the company’s stock valued at $23,597,000 after acquiring an additional 73,405 shares during the period. Geode Capital Management LLC grew its stake in Sprinklr by 11.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,550 shares of the company’s stock valued at $21,560,000 after acquiring an additional 295,638 shares during the period. Finally, Norges Bank acquired a new stake in Sprinklr during the 4th quarter worth $16,477,000. Hedge funds and other 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.