Clearbridge Investments LLC Raises Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Clearbridge Investments LLC increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,532,339 shares of the company's stock after purchasing an additional 153,642 shares during the period. Clearbridge Investments LLC owned approximately 4.52% of Sprout Social worth $155,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SPT. RiverPark Advisors LLC bought a new stake in shares of Sprout Social in the third quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social in the 3rd quarter valued at $40,000. DekaBank Deutsche Girozentrale bought a new position in Sprout Social in the third quarter valued at about $47,000. Arcadia Investment Management Corp MI boosted its stake in shares of Sprout Social by 36.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company's stock valued at $64,000 after purchasing an additional 281 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company's stock valued at $125,000 after purchasing an additional 323 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPT shares. William Blair reaffirmed a "market perform" rating on shares of Sprout Social in a research note on Friday, May 3rd. Canaccord Genuity Group dropped their price target on shares of Sprout Social from $70.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 3rd. Morgan Stanley reduced their price objective on shares of Sprout Social from $65.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Friday, May 3rd. Barclays lowered their target price on Sprout Social from $72.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group lowered Sprout Social from a "buy" rating to a "neutral" rating and reduced their price target for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Sprout Social has a consensus rating of "Moderate Buy" and a consensus price target of $57.07.

Insider Activity at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now owns 198,175 shares of the company's stock, valued at approximately $11,286,066.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the firm's 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 $1,252,900.00. Following the sale, the director now directly owns 44,487 shares of the company's stock, valued at $2,533,534.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now directly 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 ninety days, insiders sold 110,600 shares of company stock worth $5,738,830. Corporate insiders own 10.97% of the company's stock.

Sprout Social Stock Performance

SPT traded down $0.76 during trading on Tuesday, hitting $31.05. 2,359,489 shares of the company traded hands, compared to its average volume of 926,132. The firm has a market cap of $1.76 billion, a P/E ratio of -24.84 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. Sprout Social, Inc. has a one year low of $25.68 and a one year high of $68.41. The stock's fifty day moving average is $48.50 and its 200 day moving average is $55.52.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. As a group, equities analysts predict that Sprout Social, Inc. will post -0.91 EPS for the current fiscal year.

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.