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

Sprinklr, Inc. (NYSE:CXM) shares gapped up prior to trading 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 changing hands.

Other analysts have also issued research reports about the company. Barclays decreased their price target on Sprinklr from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, December 11th. TheStreet lowered Sprinklr from a “c-” rating to a “d+” rating in a research note on Thursday, December 28th. BTIG Research downgraded Sprinklr from a “buy” rating to a “neutral” rating in a research report on Thursday, December 7th. William Blair reissued an “outperform” rating on shares of Sprinklr in a research note on Thursday. Finally, Morgan Stanley dropped their target price on Sprinklr from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.59.

Insider Buying and Selling at Sprinklr

In other Sprinklr 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 transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sprinklr news, major shareholder Battery Partners Ix, Llc sold 10,424 shares of the business’s stock in a transaction that occurred on 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Manish Sarin sold 60,651 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $12.01, for a total value of $728,418.51. Following the completion of the transaction, the chief financial officer now directly owns 644,946 shares of the company’s stock, valued at $7,745,801.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,682 shares of company stock valued at $2,476,123. 40.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprinklr

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Sprinklr by 37,314.8% during the first quarter. JPMorgan Chase & Co. now owns 60,612 shares of the company’s stock valued at $722,000 after buying an additional 60,450 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Sprinklr during the first quarter valued at about $11,368,000. Citigroup Inc. grew its stake in shares of Sprinklr by 308.9% during the first quarter. Citigroup Inc. now owns 2,212 shares of the company’s stock valued at $26,000 after buying an additional 1,671 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Sprinklr during the first quarter valued at about $1,259,000. Finally, BlackRock Inc. grew its stake in shares of Sprinklr by 227.7% during the first quarter. BlackRock Inc. now owns 990,051 shares of the company’s stock valued at $11,781,000 after buying an additional 687,969 shares during the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.

Sprinklr Price Performance

The stock has a 50 day moving average price of $12.90 and a 200-day moving average price of $13.37. The stock has a market capitalization of $3.51 billion, a P/E ratio of 117.09, a PEG ratio of 2.95 and a beta of 0.89.

About Sprinklr

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.