NEW YORK—Pattabhiraman Arun, Chief Marketing Officer of Sprinklr, Inc. (NYSE:CXM), has disclosed the sale of 12,273 shares of the company's Class A common stock, according to a recent SEC filing. The transactions, which occurred on December 16 and 17, amounted to a total value of $114,992. The shares were sold at prices ranging from $9.32 to $9.37 per share. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares, and the company maintains a strong balance sheet with more cash than debt.
These sales were conducted to meet statutory tax withholding obligations related to the vesting of restricted stock units, as per the company's equity incentive plans. Following these transactions, Arun retains ownership of 434,071 shares of Sprinklr's stock. With a current market capitalization of $2.3 billion and showing profitability over the last twelve months, InvestingPro analysis reveals 14 additional key insights about Sprinklr's financial health and growth prospects.
In other recent news, Sprinklr Inc. has been the subject of various analyst reviews following its latest financial results. JPMorgan downgraded the company's stock from Overweight to Neutral, citing potential near-term operational risks as the company adjusts to new directives. Meanwhile, KeyBanc Capital Markets maintained its Overweight rating, recognizing Sprinklr's positive performance and encouraging guidance despite anticipated year-on-year growth slowdown.
On the other hand, Oppenheimer upheld its Perform rating, attributing it to the company's exceeded profit and loss guidance for the third quarter. DA Davidson raised its price target for Sprinklr while keeping a Neutral rating, acknowledging the company's stronger-than-expected revenue and an increase in cRPO growth. Lastly, Citi maintained its Neutral rating, despite identifying a weakness in Sprinklr's billings.
These developments come as Sprinklr's new CEO, Rory Read, implements strategic changes aimed at improving operational efficiency. Despite these changes, analysts express caution, suggesting that the adjustments might require time before significantly boosting the company's growth trajectory. The company's efforts to balance growth with profitability continue to be closely monitored by market analysts.
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