Insider Selling: Sprinklr, Inc. (NYSE:CXM) Major Shareholder Sells 30,000 Shares of Stock

Sprinklr, Inc. (NYSE:CXM) major shareholder Morad Elhafed sold 30,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $12.25, for a total value of $367,500.00. Following the completion of the transaction, the insider now directly owns 50,952 shares in the company, valued at approximately $624,162. This trade represents a 37.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sprinklr Stock Performance

Shares of Sprinklr stock opened at $8.78 on Friday. The business has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $8.45. The company has a market cap of $2.23 billion, a PE ratio of 54.88, a P/E/G ratio of 3.02 and a beta of 0.81. Sprinklr, Inc. has a one year low of $6.91 and a one year high of $14.31.

Analysts Set New Price Targets

CXM has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their target price on shares of Sprinklr from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Rosenblatt Securities restated a “buy” rating and issued a $10.50 price objective on shares of Sprinklr in a report on Thursday, December 5th. Scotiabank lifted their target price on shares of Sprinklr from $7.70 to $8.50 and gave the company a “sector perform” rating in a report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Sprinklr in a research note on Monday, December 16th. Finally, Barclays raised their price target on Sprinklr from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in shares of Sprinklr by 107,818.1% during 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 in the last quarter. Solel Partners LP lifted its holdings in Sprinklr by 46.8% during the 2nd quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after buying an additional 1,176,726 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its position in shares of Sprinklr by 63.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock worth $20,494,000 after acquiring an additional 827,375 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sprinklr by 224.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 628,661 shares of the company’s stock valued at $4,860,000 after acquiring an additional 434,920 shares during the last quarter. Finally, State Street Corp raised its position in shares of Sprinklr by 7.2% during the 3rd quarter. State Street Corp now owns 4,826,736 shares of the company’s stock worth $37,311,000 after acquiring an additional 322,318 shares in the last quarter. Institutional investors and hedge funds 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.