King Luther Capital Management Corp Has $936,000 Position in Sprout Social, Inc. (NASDAQ:SPT)

King Luther Capital Management Corp trimmed its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 79.2% during the third quarter, Holdings Channel reports. The firm owned 32,200 shares of the company’s stock after selling 122,350 shares during the quarter. King Luther Capital Management Corp’s holdings in Sprout Social were worth $936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Sprout Social by 2.8% during the first quarter. Russell Investments Group Ltd. now owns 39,352 shares of the company’s stock worth $2,350,000 after acquiring an additional 1,060 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Sprout Social by 6.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,571 shares of the company’s stock worth $887,000 after purchasing an additional 930 shares during the period. Vanguard Group Inc. raised its holdings in Sprout Social by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company’s stock worth $308,368,000 after buying an additional 93,712 shares during the last quarter. Bessemer Group Inc. bought a new position in Sprout Social in the 1st quarter valued at about $61,000. Finally, EntryPoint Capital LLC bought a new position in shares of Sprout Social in the first quarter valued at approximately $37,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPT. Scotiabank started coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. Robert W. Baird increased their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. Finally, Barclays dropped their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.62.

Insider Activity

In other news, President Ryan Paul Barretto sold 13,306 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the transaction, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the sale, the director now owns 42,122 shares in the company, valued at approximately $1,231,226.06. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock valued at $1,801,351 over the last quarter. Company insiders own 10.97% of the company’s stock.

Sprout Social Stock Performance

Shares of SPT opened at $32.10 on Friday. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $28.46 and its two-hundred day moving average price is $31.37. The firm has a market cap of $1.84 billion, a PE ratio of -26.75 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, equities research analysts forecast that Sprout Social, Inc. will post -0.98 EPS for the current year.

Sprout Social Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.