First Eagle Investment Management Increases Stake in Sprinklr by 41.8%

First Eagle Investment Management LLC has significantly increased its holdings in Sprinklr, Inc. (NYSE:CXM), raising its position by 41.8% during the third quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm now owns 1,071,681 shares of Sprinklr, having acquired an additional 315,953 shares in the quarter. The total value of First Eagle’s stake stands at approximately $8.27 million at the end of the most recent quarter.

This move comes amid a broader trend of increased investment in Sprinklr by various hedge funds. For instance, Vanguard Group Inc. expanded its holdings in the same period by 20.3%, bringing its total to 17,571,641 shares, valued at $135.65 million after purchasing an additional 2,966,556 shares. Additionally, Sea Cliff Partners Management LP raised its stake by a staggering 1,174.6% in the second quarter, now holding 2,166,792 shares worth around $18.33 million.

The trend of institutional investment continues, with Norges Bank acquiring a new stake valued at $10.31 million and Jefferies Financial Group Inc. boosting its position by 31.6% in the same quarter. It now owns 4,682,000 shares, valued at approximately $39.61 million. Additionally, Hillsdale Investment Management Inc. purchased a new stake worth about $6.99 million during the third quarter.

The institutional ownership of Sprinklr is notable, with hedge funds and other institutional investors holding approximately 40.19% of the company’s stock.

In terms of insider activity, Arun Pattabhiraman, the Chief Marketing Officer, sold 16,533 shares on December 16, 2023, at an average price of $7.78, bringing in about $128,626.74. Following this transaction, Pattabhiraman retains 517,878 shares, valued at approximately $4.03 million. Similarly, the Chief Technology Officer, Amitabh Misra, sold 9,099 shares on the same day for a total of $70,790.22, reducing his holdings to 584,627 shares, worth around $4.55 million.

Over the last 90 days, insiders have sold a total of 613,650 shares valued at approximately $4.38 million. Corporate insiders currently own about 60.53% of Sprinklr’s stock.

Market Performance and Analyst Insights

On December 3, 2023, Sprinklr reported its quarterly earnings, showing earnings per share (EPS) of $0.12, exceeding analysts’ expectations of $0.09 by $0.03. The company generated revenues of $219.07 million, surpassing the consensus estimate of $209.56 million. This reflects a year-over-year revenue growth of 9.2%. The company’s return on equity is currently at 8.03%, with a net margin of 13.42%.

Analysts forecast that Sprinklr will post an EPS of $0.10 for the current fiscal year. As of Wednesday, December 16, 2023, Sprinklr’s stock opened at $5.95, with a market capitalization of approximately $1.47 billion. The firm has a price-to-earnings (P/E) ratio of 14.17 and a beta of 0.78. Its shares have fluctuated between a 52-week low of $5.12 and a high of $9.69.

Sprinklr, Inc. specializes in customer experience management through a unified, AI-driven platform. It enables organizations to engage with customers across various digital and social channels, consolidating marketing, advertising, research, care, and engagement functions into a single software-as-a-service (SaaS) solution. The company’s platform includes tools for social media management, customer service automation, social advertising, and market research, enhanced by capabilities in artificial intelligence and machine learning.

As interest grows from institutional investors, Sprinklr appears well-positioned for continued growth in the competitive landscape of enterprise software. Further insights on hedge fund holdings can be accessed through resources like HoldingsChannel.com.