Sprinklr, Inc. (NYSE:CXM) Short Interest Up 17.1% in June

Sprinklr, Inc. (NYSE:CXM) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 6,910,000 shares, a growth of 17.1% from the May 31st total of 5,900,000 shares. Based on an average daily volume of 2,440,000 shares, the short-interest ratio is currently 2.8 days. Approximately 6.0% of the shares of the company are sold short.

Sprinklr Stock Performance

Shares of CXM stock traded up $0.26 on Friday, hitting $9.62. The stock had a trading volume of 3,133,205 shares, compared to its average volume of 3,152,304. The stock’s 50 day moving average is $10.95 and its 200-day moving average is $11.91. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 45.81, a P/E/G ratio of 1.64 and a beta of 0.84. Sprinklr has a 52-week low of $8.33 and a 52-week high of $17.14.

Sprinklr (NYSE:CXM) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Sprinklr had a net margin of 7.85% and a return on equity of 9.26%. The company had revenue of $195.96 million during the quarter, compared to analysts’ expectations of $194.54 million. Equities analysts expect that Sprinklr will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder R David Tabors sold 319,405 shares of Sprinklr stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.10, for a total value of $3,864,800.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Arun Pattabhiraman sold 52,401 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $11.66, for a total value of $610,995.66. Following the sale, the chief marketing officer now owns 491,862 shares in the company, valued at approximately $5,735,110.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder R David Tabors sold 319,405 shares of Sprinklr stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.10, for a total value of $3,864,800.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,236 shares of company stock worth $4,492,985. Company insiders own 30.12% of the company’s stock.

Hedge Funds Weigh In On Sprinklr

A number of institutional investors have recently made changes to their positions in CXM. Vanguard Group Inc. increased its stake in shares of Sprinklr by 30.6% in the first quarter. Vanguard Group Inc. now owns 15,248,951 shares of the company’s stock worth $187,105,000 after buying an additional 3,575,001 shares during the last quarter. Cadian Capital Management LP increased its position in shares of Sprinklr by 29.9% in the 4th quarter. Cadian Capital Management LP now owns 14,560,167 shares of the company’s stock worth $175,304,000 after purchasing an additional 3,355,566 shares during the last quarter. TFG Asset Management GP Ltd raised its stake in shares of Sprinklr by 15.8% in the 4th quarter. TFG Asset Management GP Ltd now owns 2,200,000 shares of the company’s stock valued at $26,488,000 after purchasing an additional 300,000 shares in the last quarter. Kettle Hill Capital Management LLC bought a new position in shares of Sprinklr during the fourth quarter worth about $12,889,000. Finally, Stanley Laman Group Ltd. grew its stake in Sprinklr by 1,185.6% in the fourth quarter. Stanley Laman Group Ltd. now owns 1,045,673 shares of the company’s stock worth $12,590,000 after purchasing an additional 964,333 shares in the last quarter. 40.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CXM shares. Rosenblatt Securities decreased their price objective on shares of Sprinklr from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Cantor Fitzgerald cut shares of Sprinklr from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $10.00 in a research note on Thursday, June 6th. Morgan Stanley cut their price objective on Sprinklr from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Oppenheimer reiterated a “market perform” rating on shares of Sprinklr in a report on Thursday, March 28th. Finally, William Blair restated an “outperform” rating on shares of Sprinklr in a report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Sprinklr presently has an average rating of “Hold” and an average price target of $12.80.

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.