Sprinklr, Inc. (NYSE:CXM) Shares Sold by Potrero Capital Research LLC

Potrero Capital Research LLC lowered its stake in shares of Sprinklr, Inc. (NYSE:CXM) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 970,473 shares of the company’s stock after selling 173,462 shares during the quarter. Sprinklr makes up about 2.4% of Potrero Capital Research LLC’s investment portfolio, making the stock its 15th largest holding. Potrero Capital Research LLC’s holdings in Sprinklr were worth $7,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CXM. Federated Hermes Inc. boosted its holdings in Sprinklr by 107,818.1% in the second quarter. Federated Hermes Inc. now owns 1,696,472 shares of the company’s stock worth $16,320,000 after purchasing an additional 1,694,900 shares during the period. Solel Partners LP boosted its holdings in Sprinklr by 46.8% in the second quarter. Solel Partners LP now owns 3,692,963 shares of the company’s stock worth $35,526,000 after purchasing an additional 1,176,726 shares during the period. Letko Brosseau & Associates Inc. boosted its holdings in Sprinklr by 63.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 2,130,350 shares of the company’s stock worth $20,494,000 after purchasing an additional 827,375 shares during the period. Cerity Partners LLC boosted its holdings in Sprinklr by 33.0% in the third quarter. Cerity Partners LLC now owns 991,475 shares of the company’s stock worth $7,664,000 after purchasing an additional 246,095 shares during the period. Finally, 272 Capital LP acquired a new position in Sprinklr in the second quarter worth $2,352,000. Institutional investors and hedge funds own 40.19% of the company’s stock.

Analysts Set New Price Targets

CXM has been the subject of a number of research reports. Barclays downgraded shares of Sprinklr from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Monday, October 7th. Cantor Fitzgerald reduced their price target on shares of Sprinklr from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Rosenblatt Securities reduced their price target on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Morgan Stanley reduced their price target on shares of Sprinklr from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Finally, Wells Fargo & Company downgraded shares of Sprinklr from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $8.00 to $6.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.61.

Insiders Place Their Bets

In related news, major shareholder Roger H. Lee sold 225,000 shares of Sprinklr stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $7.37, for a total value of $1,658,250.00. Following the transaction, the insider now owns 514,799 shares of the company’s stock, valued at approximately $3,794,068.63. This trade represents a 30.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Arun Pattabhiraman sold 10,291 shares of Sprinklr stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.83, for a total value of $80,578.53. Following the completion of the transaction, the chief marketing officer now directly owns 448,947 shares in the company, valued at $3,515,255.01. This represents a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 338,480 shares of company stock worth $2,545,967. 30.12% of the stock is owned by corporate insiders.

Sprinklr Stock Down 2.1 %

Shares of NYSE CXM opened at $8.24 on Wednesday. Sprinklr, Inc. has a fifty-two week low of $6.91 and a fifty-two week high of $17.14. The firm’s 50-day simple moving average is $7.59 and its 200 day simple moving average is $8.74. The stock has a market cap of $2.09 billion, a P/E ratio of 45.75, a P/E/G ratio of 2.51 and a beta of 0.81.

Sprinklr (NYSE:CXM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Sprinklr had a net margin of 6.54% and a return on equity of 8.40%. The business had revenue of $197.21 million for the quarter, compared to analysts’ expectations of $194.58 million. On average, sell-side analysts anticipate that Sprinklr, Inc. will post 0.11 earnings per share for the current fiscal year.

Sprinklr 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.