Sprinklr (NYSE:CXM) Shares Gap Down – Should You Sell?

11 Dec 2024, 17:48 by Mitch Edgeman · The Markets Daily

Sprinklr, Inc. (NYSE:CXM – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.14, but opened at $8.88. Sprinklr shares last traded at $9.02, with a volume of 104,610 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CXM shares. DA Davidson upped their price target on shares of Sprinklr from $8.00 to $9.50 and gave the company a “neutral” rating in a report on Thursday, December 5th. KeyCorp lowered their price objective on shares of Sprinklr from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Rosenblatt Securities reiterated a “buy” rating and set a $10.50 target price on shares of Sprinklr in a research note on Thursday, December 5th. Stifel Nicolaus boosted their price objective on shares of Sprinklr from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Citigroup reduced their price objective on Sprinklr from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sprinklr currently has an average rating of “Hold” and a consensus target price of $10.13.

View Our Latest Analysis on CXM

Sprinklr Trading Up 1.9 %

The company’s fifty day moving average price is $7.73 and its two-hundred day moving average price is $8.59. The firm has a market cap of $2.36 billion, a P/E ratio of 57.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.81.

Insider Activity

In other Sprinklr news, CEO Ragy Thomas sold 12,902 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $7.83, for a total transaction of $101,022.66. Following the transaction, the chief executive officer now owns 1,051,182 shares of the company’s stock, valued at approximately $8,230,755.06. This represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Manish Sarin sold 22,738 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.83, for a total value of $178,038.54. Following the completion of the transaction, the chief financial officer now owns 748,918 shares in the company, valued at approximately $5,864,027.94. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,596 shares of company stock worth $536,275. 30.12% of the stock is owned by corporate insiders.

Institutional Trading of Sprinklr

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Sprinklr by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,159 shares of the company’s stock worth $627,000 after purchasing an additional 1,117 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Sprinklr by 15.6% in the 2nd quarter. CIBC Asset Management Inc now owns 12,523 shares of the company’s stock valued at $120,000 after acquiring an additional 1,694 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Sprinklr by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the company’s stock worth $580,000 after acquiring an additional 1,700 shares in the last quarter. CWM LLC boosted its position in Sprinklr by 111.0% during the second quarter. CWM LLC now owns 3,620 shares of the company’s stock valued at $35,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Sprinklr by 12.0% in the second quarter. Commonwealth Equity Services LLC now owns 22,854 shares of the company’s stock valued at $220,000 after purchasing an additional 2,450 shares in the last quarter. 40.19% of the stock is owned by institutional investors.

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