Lisanti Capital Growth LLC Acquires 64,370 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Lisanti Capital Growth LLC increased its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 168.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,655 shares of the company's stock after buying an additional 64,370 shares during the quarter. Sprout Social accounts for about 1.5% of Lisanti Capital Growth LLC's holdings, making the stock its 17th biggest holding. Lisanti Capital Growth LLC owned approximately 0.18% of Sprout Social worth $6,307,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SPT. Bank of New York Mellon Corp increased its holdings in shares of Sprout Social by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 401,057 shares of the company's stock worth $20,005,000 after buying an additional 28,466 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Sprout Social by 16.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the company's stock worth $355,000 after purchasing an additional 1,020 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sprout Social by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company's stock valued at $505,000 after purchasing an additional 1,389 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Sprout Social during the third quarter valued at about $423,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sprout Social by 2.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,940 shares of the company's stock worth $2,541,000 after purchasing an additional 1,425 shares during the last quarter.

Insider Activity at Sprout Social

In related news, President Ryan Paul Barretto sold 5,600 shares of the business's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the transaction, the president now directly owns 198,175 shares in the company, valued at $11,286,066.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction on Monday, April 1st. The stock was sold at an average price of $59.63, for a total transaction of $89,445.00. Following the sale, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $318,920.00. Following the transaction, the president now owns 198,175 shares of the company's stock, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. In the last three months, insiders sold 89,100 shares of company stock valued at $5,126,065. 10.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPT. Barclays cut their target price on shares of Sprout Social from $72.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday. Robert W. Baird lowered Sprout Social from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $72.00 to $45.00 in a research report on Friday. Oppenheimer reduced their price target on Sprout Social from $76.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday. Cantor Fitzgerald lowered their price objective on Sprout Social from $74.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Canaccord Genuity Group reduced their target price on Sprout Social from $70.00 to $50.00 and set a "buy" rating on the stock in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.07.

Sprout Social Stock Down 1.9 %

NASDAQ SPT traded down $0.54 during mid-day trading on Monday, hitting $28.28. The company's stock had a trading volume of 3,159,885 shares, compared to its average volume of 781,034. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The company's 50 day simple moving average is $55.98 and its 200 day simple moving average is $56.80. Sprout Social, Inc. has a twelve month low of $27.75 and a twelve month high of $68.41. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -22.62 and a beta of 1.09.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The business had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

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.

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