Sprinklr (NYSE:CXM) Shares Down 6.2% – Time to Sell?

Sprinklr, Inc. (NYSE:CXM) shares traded down 6.2% on Friday . The company traded as low as $7.14 and last traded at $7.16. 292,889 shares changed hands during trading, a decline of 86% from the average session volume of 2,026,380 shares. The stock had previously closed at $7.63.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sprinklr in a research note on Friday, February 7th. William Blair cut Sprinklr from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Morgan Stanley lifted their target price on Sprinklr from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. Scotiabank increased their price target on Sprinklr from $8.50 to $9.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 13th. Finally, Rosenblatt Securities lifted their price objective on Sprinklr from $10.50 to $12.00 and gave the company a “buy” rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.38.

Sprinklr Stock Down 6.6 %

The business has a 50-day moving average price of $8.57 and a 200-day moving average price of $8.31. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 44.41, a P/E/G ratio of 2.31 and a beta of 0.77.

Insider Activity at Sprinklr

In other Sprinklr news, Director Neeraj Agrawal sold 26,053 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company’s stock, 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 is available at this link. 30.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprinklr

Several institutional investors and hedge funds have recently made changes to their positions in CXM. PNC Financial Services Group Inc. raised its stake in Sprinklr by 100.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,856 shares of the company’s stock worth $33,000 after acquiring an additional 1,928 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Sprinklr in the fourth quarter worth about $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Sprinklr during the fourth quarter worth about $42,000. SG Americas Securities LLC purchased a new stake in Sprinklr in the fourth quarter valued at approximately $89,000. Finally, Cibc World Markets Corp acquired a new position in Sprinklr in the 4th quarter worth approximately $92,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Sprinklr Company Profile

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.