3G Capital Partners LP Makes New $4.61 Million Investment in Sprout Social, Inc. (NASDAQ:SPT)

3G Capital Partners LP bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the company's stock, valued at approximately $4,606,000. Sprout Social accounts for 1.3% of 3G Capital Partners LP's portfolio, making the stock its 14th largest holding. 3G Capital Partners LP owned approximately 0.26% of Sprout Social as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SPT. Norges Bank bought a new stake in Sprout Social during the fourth quarter valued at approximately $13,422,000. JPMorgan Chase & Co. grew its position in shares of Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock valued at $11,714,000 after acquiring an additional 307,906 shares during the period. Principal Financial Group Inc. grew its position in shares of Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after acquiring an additional 200,190 shares during the period. First Trust Advisors LP raised its holdings in Sprout Social by 24.4% in the 4th quarter. First Trust Advisors LP now owns 834,093 shares of the company's stock worth $25,615,000 after purchasing an additional 163,788 shares during the period. Finally, Vanguard Group Inc. lifted its position in Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock valued at $180,764,000 after purchasing an additional 141,141 shares in the last quarter.

Insider Activity

In related news, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the sale, the director now directly owns 25,665 shares of the company's stock, valued at approximately $498,414.30. The trade was a 16.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,446 shares of company stock valued at $3,115,839. 10.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SPT has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Piper Sandler decreased their target price on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Scotiabank lowered their target price on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, Barclays cut their price target on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Sprout Social currently has a consensus rating of "Hold" and a consensus price target of $32.15.

Sprout Social Price Performance

Sprout Social stock traded down $0.30 during mid-day trading on Monday, reaching $21.14. 415,287 shares of the company's stock traded hands, compared to its average volume of 694,653. Sprout Social, Inc. has a 12-month low of $18.52 and a 12-month high of $39.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $22.55 and a two-hundred day moving average of $28.08. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -17.62 and a beta of 1.20.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $107.09 million for the quarter, compared to analysts' expectations of $106.74 million. Equities analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Sprout Social Company 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.