Sprout Social, Inc. (NASDAQ:SPT) Stock Holdings Lifted by Cadian Capital Management LP

Cadian Capital Management LP increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,548,323 shares of the company's stock after buying an additional 263,267 shares during the period. Sprout Social comprises approximately 8.0% of Cadian Capital Management LP's holdings, making the stock its 4th biggest holding. Cadian Capital Management LP owned about 7.92% of Sprout Social worth $139,679,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock worth $180,764,000 after buying an additional 141,141 shares in the last quarter. Jennison Associates LLC grew its holdings in Sprout Social by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after acquiring an additional 7,311 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Sprout Social by 380.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock worth $54,425,000 after purchasing an additional 1,403,549 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after purchasing an additional 200,190 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sprout Social by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,183,916 shares of the company's stock worth $36,366,000 after purchasing an additional 8,378 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPT. Scotiabank cut their price objective on 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. The Goldman Sachs Group reduced their price objective on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Canaccord Genuity Group lowered their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reduced their price target on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Oppenheimer lowered their price objective on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $31.69.

Insider Buying and Selling at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares of the company's stock, valued at $1,035,358.76. This trade represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of the business'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 owns 25,665 shares in the company, valued at approximately $498,414.30. This trade represents a 16.31 % decrease in their ownership of the stock. 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 $2,644,639. Company insiders own 10.12% of the company's stock.

Sprout Social Stock Performance

Shares of SPT traded up $2.09 during mid-day trading on Friday, reaching $23.90. 1,524,947 shares of the company's stock traded hands, compared to its average volume of 658,978. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The business's 50-day moving average price is $22.00 and its 200-day moving average price is $27.86. The stock has a market capitalization of $1.38 billion, a P/E ratio of -19.92 and a beta of 1.20. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The firm had revenue of $109.29 million for the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities analysts predict that Sprout Social, Inc. will post -0.99 earnings per share 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.