Sprinklr, Inc. (NYSE:CXM – Get Rating) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,040,000 shares, an increase of 7.9% from the August 31st total of 1,890,000 shares. Based on an average daily trading volume, of 568,700 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.9% of the shares of the company are sold short.
Insiders Place Their Bets
In related news, General Counsel Daniel P. Haley sold 62,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $12.67, for a total transaction of $785,540.00. Following the completion of the sale, the general counsel now owns 100,000 shares in the company, valued at $1,267,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Daniel P. Haley sold 62,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $12.67, for a total transaction of $785,540.00. Following the completion of the sale, the general counsel now owns 100,000 shares in the company, valued at $1,267,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Pavitar Singh sold 2,500 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $12.50, for a total value of $31,250.00. Following the sale, the chief technology officer now owns 269,738 shares of the company's stock, valued at approximately $3,371,725. The disclosure for this sale can be found here. Insiders sold a total of 127,718 shares of company stock worth $1,503,205 over the last quarter. 43.75% of the stock is currently owned by corporate insiders.
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Institutional Investors Weigh In On Sprinklr
Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank raised its holdings in shares of Sprinklr by 260.3% in the first quarter. Swiss National Bank now owns 232,400 shares of the company's stock worth $2,766,000 after buying an additional 167,900 shares during the period. Alamar Capital Management LLC increased its holdings in Sprinklr by 4.7% during the 1st quarter. Alamar Capital Management LLC now owns 155,467 shares of the company's stock worth $1,850,000 after purchasing an additional 6,945 shares during the period. Northern Trust Corp increased its holdings in Sprinklr by 61.5% during the 4th quarter. Northern Trust Corp now owns 49,437 shares of the company's stock worth $785,000 after purchasing an additional 18,833 shares during the period. 12 West Capital Management LP increased its holdings in Sprinklr by 19.7% during the 1st quarter. 12 West Capital Management LP now owns 6,970,000 shares of the company's stock worth $82,943,000 after purchasing an additional 1,149,361 shares during the period. Finally, Harbor Group Inc. purchased a new position in Sprinklr during the 1st quarter worth $129,000. 53.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on CXM shares. Morgan Stanley increased their price target on Sprinklr from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, September 9th. Stifel Nicolaus dropped their price target on Sprinklr from $18.00 to $15.00 in a research note on Wednesday, June 15th. BTIG Research started coverage on Sprinklr in a research note on Thursday, September 29th. They set a "buy" rating and a $12.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Sprinklr from $20.00 to $15.00 and set an "overweight" rating for the company in a research note on Wednesday, June 15th. Finally, Barclays increased their price target on Sprinklr from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Wednesday, June 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.67.
Sprinklr Stock Performance
Shares of NYSE CXM opened at $10.22 on Thursday. The business's 50 day moving average price is $11.30 and its 200-day moving average price is $11.66. Sprinklr has a fifty-two week low of $8.87 and a fifty-two week high of $20.29. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -23.23 and a beta of 0.88.
Sprinklr (NYSE:CXM – Get Rating) last issued its quarterly earnings results on Thursday, September 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. Sprinklr had a negative return on equity of 20.08% and a negative net margin of 20.66%. The firm had revenue of $150.60 million for the quarter, compared to the consensus estimate of $147.45 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The company's revenue for the quarter was up 26.9% on a year-over-year basis. Sell-side analysts predict that Sprinklr will post -0.32 earnings per share for the current year.
About Sprinklr
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Sprinklr, Inc provides enterprise cloud software products worldwide. The company offers Unified Customer Experience Management platform, a purpose-built to analyze unstructured customer experience data, built to scale across future and modern channels, and integrates all stages of the customer journey.
Further Reading
- Get a free copy of the StockNews.com research report on Sprinklr (CXM)
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