Sprout Social, Inc. (NASDAQ:SPT) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,501 shares of the company’s stock after buying an additional 53,307 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.47% of Sprout Social worth $8,369,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPT. Wellington Management Group LLP raised its position in shares of Sprout Social by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Sprout Social by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock valued at $66,689,000 after acquiring an additional 7,311 shares during the period. State Street Corp raised its holdings in Sprout Social by 0.5% during the third quarter. State Street Corp now owns 1,227,099 shares of the company’s stock worth $35,672,000 after purchasing an additional 5,557 shares in the last quarter. Principal Financial Group Inc. lifted its position in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after purchasing an additional 200,190 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Sprout Social by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock valued at $34,179,000 after purchasing an additional 22,320 shares in the last quarter.

Sprout Social Trading Up 1.7 %

Sprout Social stock opened at $23.97 on Friday. The company’s fifty day simple moving average is $30.16 and its 200-day simple moving average is $29.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 12 month low of $22.95 and a 12 month high of $62.34. The stock has a market cap of $1.38 billion, a P/E ratio of -19.97 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, sell-side analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPT has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group lowered their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC dropped their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler cut their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays decreased their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.85.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the transaction, the insider now owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares of the company’s stock, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,800 shares of company stock worth $3,242,332. 10.97% of the stock is owned by corporate insiders.

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.