Letko Brosseau & Associates Inc. Buys 827,375 Shares of Sprinklr, Inc. (NYSE:CXM)

Letko Brosseau & Associates Inc. raised its stake in Sprinklr, Inc. (NYSE:CXM) by 63.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,130,350 shares of the company’s stock after acquiring an additional 827,375 shares during the period. Letko Brosseau & Associates Inc. owned about 0.80% of Sprinklr worth $20,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CXM. Victory Capital Management Inc. grew its holdings in shares of Sprinklr by 31.4% in the 4th 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Sprinklr by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 905,756 shares of the company’s stock worth $10,905,000 after buying an additional 27,652 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Sprinklr during the fourth quarter worth approximately $4,395,000. Jump Financial LLC raised its stake in shares of Sprinklr by 5.0% in the fourth quarter. Jump Financial LLC now owns 39,670 shares of the company’s stock valued at $478,000 after acquiring an additional 1,875 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Sprinklr in the 4th quarter worth approximately $161,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CXM. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sprinklr in a research report on Thursday. KeyCorp cut their price target on Sprinklr from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on shares of Sprinklr from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday. Stifel Nicolaus lowered their price objective 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. Finally, Rosenblatt Securities reduced their target price on shares of Sprinklr from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.30.

Insiders Place Their Bets

In other news, insider Diane Adams sold 13,717 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $9.20, for a total value of $126,196.40. Following the completion of the sale, the insider now directly owns 395,222 shares of the company’s stock, valued at approximately $3,636,042.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 15,962 shares of company stock worth $148,000. Insiders own 30.12% of the company’s stock.

Sprinklr Price Performance

Shares of Sprinklr stock traded down $0.08 on Friday, hitting $7.71. 2,273,345 shares of the company’s stock traded hands, compared to its average volume of 2,261,539. The firm’s 50-day moving average price is $9.19 and its two-hundred day moving average price is $10.86. The stock has a market capitalization of $2.04 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. Sprinklr, Inc. has a one year low of $7.61 and a one year high of $17.14.

Sprinklr (NYSE:CXM) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $194.54 million. On average, analysts forecast that Sprinklr, Inc. will post 0.19 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.