Short Interest in Sprinklr, Inc. (NYSE:CXM) Increases By 17.1%

Sprinklr, Inc. (NYSE:CXM) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 6,910,000 shares, an increase of 17.1% from the May 31st total of 5,900,000 shares. Based on an average daily trading volume, of 2,440,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 6.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CXM shares. Wells Fargo & Company cut their target price on Sprinklr from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. JMP Securities reduced their target price on Sprinklr from $22.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 6th. Cantor Fitzgerald lowered Sprinklr from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $10.00 in a research note on Thursday, June 6th. DA Davidson downgraded shares of Sprinklr from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $9.00 in a research report on Thursday, June 6th. Finally, Stifel Nicolaus dropped their target price on shares of Sprinklr from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Sprinklr currently has an average rating of “Hold” and a consensus target price of $12.80.

Insiders Place Their Bets

In other Sprinklr news, major shareholder R David Tabors sold 319,405 shares of Sprinklr stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $12.10, for a total transaction of $3,864,800.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CMO Arun Pattabhiraman sold 52,401 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $11.66, for a total transaction of $610,995.66. Following the completion of the sale, the chief marketing officer now directly owns 491,862 shares in the company, valued at approximately $5,735,110.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder R David Tabors sold 319,405 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $12.10, for a total transaction of $3,864,800.50. The disclosure for this sale can be found here. Insiders sold a total of 373,236 shares of company stock valued at $4,492,985 over the last quarter. 30.12% of the stock is owned by corporate insiders.

Institutional Trading of Sprinklr

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of Sprinklr during the first quarter valued at $28,000. Quest Partners LLC bought a new stake in shares of Sprinklr in the fourth quarter worth $115,000. D.A. Davidson & CO. purchased a new stake in Sprinklr during the fourth quarter valued at $161,000. Susquehanna Fundamental Investments LLC bought a new position in Sprinklr in the first quarter valued at about $166,000. Finally, Victory Capital Management Inc. boosted its position in Sprinklr by 31.4% in the fourth quarter. Victory Capital Management Inc. now owns 13,885 shares of the company’s stock worth $167,000 after purchasing an additional 3,322 shares during the last quarter. 40.19% of the stock is currently owned by institutional investors.

Sprinklr Stock Performance

Shares of CXM traded up $0.26 during mid-day trading on Friday, reaching $9.62. The company had a trading volume of 3,133,205 shares, compared to its average volume of 3,152,304. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. The firm has a 50-day moving average price of $10.95 and a 200 day moving average price of $11.91. Sprinklr has a 52 week low of $8.33 and a 52 week high of $17.14.

Sprinklr (NYSE:CXM) last released its earnings results on Wednesday, June 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Sprinklr had a return on equity of 9.26% and a net margin of 7.85%. The business had revenue of $195.96 million for the quarter, compared to the consensus estimate of $194.54 million. As a group, research analysts forecast that Sprinklr will post 0.19 earnings per share for the current fiscal year.

About Sprinklr

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.