Sprinklr, Inc. (NYSE:CXM) Short Interest Down 25.3% in June

Sprinklr, Inc. (NYSE:CXM – Get Rating) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 1,830,000 shares, a drop of 25.3% from the May 31st total of 2,450,000 shares. Based on an average daily trading volume, of 601,500 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.6% of the shares of the company are short sold.

Several research firms have issued reports on CXM. Wells Fargo & Company increased their price objective on shares of Sprinklr from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. Stifel Nicolaus decreased their price objective on shares of Sprinklr from $18.00 to $15.00 in a report on Wednesday, June 15th. JPMorgan Chase & Co. decreased their price objective on shares of Sprinklr from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 15th. JMP Securities decreased their price objective on shares of Sprinklr from $27.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, April 7th. Finally, Barclays increased their price objective on shares of Sprinklr from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Sprinklr presently has an average rating of “Moderate Buy” and a consensus price target of $17.07.

In related news, insider Diane Adams sold 2,759 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $10.18, for a total transaction of $28,086.62. Following the sale, the insider now owns 113,998 shares in the company, valued at $1,160,499.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ragy Thomas sold 1,048,005 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $14.79, for a total transaction of $15,499,993.95. Following the sale, the chief executive officer now owns 31,250 shares in the company, valued at approximately $462,187.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,183,959 shares of company stock worth $17,175,719. 43.75% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CXM. 12 West Capital Management LP increased its position in Sprinklr by 152.8% during the fourth quarter. 12 West Capital Management LP now owns 5,820,639 shares of the company’s stock worth $92,374,000 after purchasing an additional 3,517,844 shares during the last quarter. Cadian Capital Management LP increased its position in Sprinklr by 185.6% during the first quarter. Cadian Capital Management LP now owns 4,564,486 shares of the company’s stock worth $54,317,000 after purchasing an additional 2,966,155 shares during the last quarter. Vanguard Group Inc. increased its position in Sprinklr by 180.0% during the first quarter. Vanguard Group Inc. now owns 4,611,375 shares of the company’s stock worth $54,875,000 after purchasing an additional 2,964,701 shares during the last quarter. EDBI Pte Ltd acquired a new stake in shares of Sprinklr during the fourth quarter valued at about $17,628,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sprinklr during the first quarter valued at about $11,368,000. Hedge funds and other institutional investors own 30.22% of the company’s stock.

Shares of NYSE:CXM remained flat at $$10.11 during midday trading on Monday. 82,676 shares of the stock traded hands, compared to its average volume of 747,592. The business’s 50-day moving average is $11.77 and its 200 day moving average is $12.37. The stock has a market cap of $2.61 billion and a P/E ratio of -18.38. Sprinklr has a 12-month low of $9.41 and a 12-month high of $23.49.

Sprinklr (NYSE:CXM – Get Rating) last posted its quarterly earnings results on Tuesday, June 14th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $144.98 million for the quarter, compared to the consensus estimate of $140.96 million. Sprinklr had a negative net margin of 23.69% and a negative return on equity of 21.64%. Sprinklr’s quarterly revenue was up 30.6% on a year-over-year basis. On average, analysts anticipate that Sprinklr will post -0.41 earnings per share for the current fiscal year.

Sprinklr Company Profile (Get Rating)

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.

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