TimesSquare Capital Management LLC Sells 99,318 Shares of Sprout Social, Inc. (NASDAQ:SPT)

TimesSquare Capital Management LLC trimmed its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,424 shares of the company's stock after selling 99,318 shares during the period. TimesSquare Capital Management LLC owned 0.51% of Sprout Social worth $17,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Sprout Social by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 406,439 shares of the company's stock worth $24,972,000 after buying an additional 6,996 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Sprout Social by 168.1% during the 4th quarter. Lisanti Capital Growth LLC now owns 102,655 shares of the company's stock valued at $6,307,000 after purchasing an additional 64,370 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Sprout Social by 67.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 19,031 shares of the company's stock valued at $1,169,000 after acquiring an additional 7,646 shares during the last quarter. Natixis Advisors L.P. grew its position in Sprout Social by 11.4% in the fourth quarter. Natixis Advisors L.P. now owns 68,272 shares of the company's stock worth $4,194,000 after acquiring an additional 6,972 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Sprout Social by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 709,169 shares of the company's stock valued at $43,571,000 after purchasing an additional 56,907 shares during the period.

Sprout Social Price Performance

NASDAQ SPT traded down $0.28 on Friday, hitting $28.21. The company had a trading volume of 1,611,574 shares, compared to its average volume of 861,567. Sprout Social, Inc. has a 12-month low of $25.68 and a 12-month high of $68.41. The company has a market capitalization of $1.59 billion, a PE ratio of -22.74 and a beta of 1.09. The company's fifty day moving average price is $53.29 and its 200-day moving average price is $56.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $90.76 million. As a group, analysts predict that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the transaction, the chief financial officer now owns 172,644 shares of the company's stock, valued at $10,294,761.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 172,644 shares in the company, valued at $10,294,761.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,600 shares of company stock valued at $5,738,830. 10.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on SPT. Needham & Company LLC lowered their price objective on shares of Sprout Social from $75.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, May 3rd. Cantor Fitzgerald reduced their price objective on Sprout Social from $74.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 3rd. Canaccord Genuity Group dropped their price target on Sprout Social from $70.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Oppenheimer cut their target price on shares of Sprout Social from $76.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, May 3rd. Finally, William Blair reissued a "market perform" rating on shares of Sprout Social in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social currently has an average rating of "Moderate Buy" and an average price target of $57.07.

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.