Crestline Management LP Takes $950,000 Position in Sprout Social, Inc. (NASDAQ:SPT)

Crestline Management LP acquired a new position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,920 shares of the company's stock, valued at approximately $950,000. Crestline Management LP owned 0.05% of Sprout Social at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock worth $11,714,000 after acquiring an additional 307,906 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sprout Social in the fourth quarter valued at about $338,000. Barclays PLC lifted its stake in shares of Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company's stock valued at $2,623,000 after purchasing an additional 69,704 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Sprout Social by 20.0% in the third 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 during the period. Finally, Brighton Jones LLC lifted its stake in shares of Sprout Social by 391.7% in the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after purchasing an additional 28,667 shares during the period.

Sprout Social Trading Down 0.3%

Shares of NASDAQ:SPT traded down $0.08 during trading on Thursday, reaching $24.12. The stock had a trading volume of 211,482 shares, compared to its average volume of 652,788. The business has a fifty day moving average price of $21.93 and a 200-day moving average price of $27.80. 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 market cap of $1.39 billion, a P/E ratio of -20.03 and a beta of 1.20. Sprout Social, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to analyst estimates of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were 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 in the company, valued at $498,414.30. The trade was a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $20.81, for a total transaction of $832,400.00. Following the sale, the insider now owns 7,417 shares of the company's stock, valued at approximately $154,347.77. This represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,446 shares of company stock worth $2,644,639. 10.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective 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. Piper Sandler reduced their price objective on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group cut their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Scotiabank cut their target price on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.69.

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.