Sprinklr (NYSE:CXM) Shares Gap Up on Analyst Upgrade

Sprinklr, Inc. (NYSE:CXM) shares gapped up before the market opened on Thursday after Rosenblatt Securities raised their price target on the stock from $16.00 to $18.00. The stock had previously closed at $13.01, but opened at $14.32. Rosenblatt Securities currently has a buy rating on the stock. Sprinklr shares last traded at $12.88, with a volume of 1,084,006 shares traded.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Sprinklr from $18.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, December 8th. Cantor Fitzgerald decreased their target price on Sprinklr from $21.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, December 7th. TheStreet cut Sprinklr from a “c-” rating to a “d+” rating in a research note on Thursday, December 28th. JMP Securities dropped their price target on Sprinklr from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, December 7th. Finally, BTIG Research lowered Sprinklr from a “buy” rating to a “neutral” rating in a research note on Thursday, December 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Sprinklr presently has an average rating of “Moderate Buy” and an average target price of $16.59.

Insider Buying and Selling

In related news, major shareholder Battery Partners Ix, Llc sold 10,424 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $11.99, for a total value of $124,983.76. Following the transaction, the insider now directly owns 80,952 shares of the company’s stock, valued at approximately $970,614.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Battery Partners Ix, Llc sold 10,424 shares of Sprinklr stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $11.99, for a total value of $124,983.76. Following the completion of the transaction, the insider now owns 80,952 shares in the company, valued at $970,614.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ragy Thomas sold 11,742 shares of Sprinklr stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.03, for a total value of $152,998.26. Following the completion of the transaction, the chief executive officer now owns 438,214 shares of the company’s stock, valued at approximately $5,709,928.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,682 shares of company stock valued at $2,476,123. 40.29% of the stock is owned by company insiders.

Institutional Trading of Sprinklr

Several institutional investors have recently added to or reduced their stakes in the company. Formidable Asset Management LLC raised its stake in shares of Sprinklr by 5.3% during the third quarter. Formidable Asset Management LLC now owns 17,935 shares of the company’s stock valued at $248,000 after acquiring an additional 900 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Sprinklr by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 23,564 shares of the company’s stock valued at $326,000 after acquiring an additional 946 shares in the last quarter. American International Group Inc. raised its stake in shares of Sprinklr by 2.0% during the fourth quarter. American International Group Inc. now owns 52,522 shares of the company’s stock valued at $632,000 after acquiring an additional 1,037 shares in the last quarter. UBS Group AG raised its stake in shares of Sprinklr by 23.4% during the first quarter. UBS Group AG now owns 5,862 shares of the company’s stock valued at $69,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Sprinklr by 1.2% during the fourth quarter. Legal & General Group Plc now owns 95,214 shares of the company’s stock valued at $1,146,000 after acquiring an additional 1,130 shares in the last quarter. Institutional investors own 40.19% of the company’s stock.

Sprinklr Stock Down 1.5 %

The company has a market cap of $3.51 billion, a P/E ratio of 117.09, a P/E/G ratio of 2.95 and a beta of 0.89. The business’s 50 day moving average is $12.90 and its 200 day moving average is $13.37.

Sprinklr Company Profile

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.