Dorsey Asset Management LLC Boosts Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Dorsey Asset Management LLC lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,306,149 shares of the company's stock after buying an additional 330,155 shares during the period. Sprout Social makes up approximately 7.3% of Dorsey Asset Management LLC's portfolio, making the stock its 8th largest position. Dorsey Asset Management LLC owned about 4.02% of Sprout Social worth $70,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPT. US Bancorp DE boosted its position in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after buying an additional 1,627 shares during the period. KBC Group NV increased its stake in Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after purchasing an additional 1,099 shares during the period. Yarbrough Capital LLC acquired a new position in shares of Sprout Social during the fourth quarter worth about $206,000. PNC Financial Services Group Inc. increased its stake in shares of Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock worth $265,000 after acquiring an additional 2,533 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sprout Social during the fourth quarter worth about $338,000.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $19.99, for a total transaction of $799,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $148,265.83. This trade represents a 84.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares in the company, valued at $1,035,358.76. This trade represents a 35.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $2,644,639 over the last 90 days. Corporate insiders own 10.12% of the company's stock.

Sprout Social Trading Up 2.9%

Shares of SPT traded up $0.69 on Monday, hitting $24.59. 417,474 shares of the stock traded hands, compared to its average volume of 658,093. 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 firm has a market capitalization of $1.42 billion, a P/E ratio of -20.50 and a beta of 1.20. The stock's 50 day moving average is $22.00 and its two-hundred day moving average is $27.87. Sprout Social, Inc. has a 1 year low of $18.52 and a 1 year high of $39.75.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. 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 report on Thursday, February 27th. Oppenheimer lowered their target price on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday. Barclays lowered their target price on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One 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. Based on data from MarketBeat, Sprout Social has an average rating of "Hold" and an average price target of $31.69.

About Sprout Social

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.