First Trust Advisors LP Has $25.62 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

First Trust Advisors LP grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 834,093 shares of the company's stock after buying an additional 163,788 shares during the period. First Trust Advisors LP owned approximately 1.45% of Sprout Social worth $25,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its stake in Sprout Social by 8.9% in the fourth quarter. Barclays PLC now owns 98,284 shares of the company's stock valued at $3,018,000 after acquiring an additional 8,050 shares during the period. CenterBook Partners LP grew its position in shares of Sprout Social by 26.3% in the 4th quarter. CenterBook Partners LP now owns 304,146 shares of the company's stock valued at $9,340,000 after purchasing an additional 63,248 shares during the period. Raymond James Financial Inc. acquired a new stake in Sprout Social during the 4th quarter worth approximately $1,184,000. Invesco Ltd. lifted its stake in Sprout Social by 1.8% in the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company's stock valued at $702,000 after buying an additional 397 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its stake in Sprout Social by 20.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 150,000 shares of the company's stock valued at $4,607,000 after buying an additional 25,000 shares in the last quarter.

Sprout Social Stock Performance

NASDAQ:SPT traded up $0.32 on Thursday, hitting $21.23. The company's stock had a trading volume of 145,479 shares, compared to its average volume of 748,654. Sprout Social, Inc. has a one year low of $18.52 and a one year high of $51.72. The firm has a market capitalization of $1.23 billion, a P/E ratio of -17.80 and a beta of 1.11. The stock has a fifty day moving average of $22.80 and a two-hundred day moving average of $28.19. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share 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 company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the sale, the director now owns 25,665 shares of the company's stock, valued at $498,414.30. The trade was a 16.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,446 shares of company stock worth $3,115,839. Company insiders own 10.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Scotiabank decreased their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group reduced their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.15.

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.