Sprinklr, Inc. (NYSE:CXM) Sees Significant Increase in Short Interest

Sprinklr, Inc. (NYSE:CXMGet Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 10,270,000 shares, a growth of 26.2% from the February 29th total of 8,140,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 8.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently issued reports on CXM shares. Barclays decreased their price target on shares of Sprinklr from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 11th. Oppenheimer reissued a “market perform” rating on shares of Sprinklr in a research report on Thursday. Rosenblatt Securities increased their price objective on shares of Sprinklr from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of Sprinklr from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $16.00 price objective on shares of Sprinklr in a research report on Thursday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.86.

Read Our Latest Stock Report on CXM

Sprinklr Stock Down 5.7 %

Shares of NYSE CXM traded down $0.74 during trading on Friday, reaching $12.27. 7,784,556 shares of the company traded hands, compared to its average volume of 4,461,729. The firm has a 50 day simple moving average of $12.90 and a 200-day simple moving average of $13.34. The stock has a market capitalization of $3.36 billion, a PE ratio of 68.17, a P/E/G ratio of 2.82 and a beta of 0.89. Sprinklr has a 52-week low of $10.70 and a 52-week high of $17.14.

Insiders Place Their Bets

In related news, CEO Ragy Thomas sold 11,742 shares of the stock in a transaction dated Monday, March 18th. The shares were 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 directly owns 438,214 shares in the company, valued at approximately $5,709,928.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ragy Thomas sold 11,742 shares of the stock in a transaction dated Monday, March 18th. The shares were 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 directly owns 438,214 shares in the company, valued at approximately $5,709,928.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Battery Partners Ix, Llc sold 10,424 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $11.99, for a total transaction of $124,983.76. Following the completion of the transaction, the insider now owns 80,952 shares of the company’s stock, valued at $970,614.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,682 shares of company stock worth $2,476,123. 40.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprinklr

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Sprinklr by 228.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,019,087 shares of the company’s stock valued at $14,104,000 after acquiring an additional 708,655 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Sprinklr by 36.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 878,104 shares of the company’s stock worth $12,153,000 after purchasing an additional 235,111 shares during the period. Graham Capital Management L.P. bought a new position in shares of Sprinklr in the 2nd quarter worth approximately $2,055,000. Horrell Capital Management Inc. lifted its stake in shares of Sprinklr by 63.1% in the 4th quarter. Horrell Capital Management Inc. now owns 336,000 shares of the company’s stock worth $4,045,000 after purchasing an additional 130,000 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Sprinklr in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 40.19% of the company’s stock.

About Sprinklr

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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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