King Luther Capital Management Corp Has $17.22 Million Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

King Luther Capital Management Corp cut its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,246 shares of the company's stock after selling 32,917 shares during the quarter. King Luther Capital Management Corp owned approximately 0.50% of Sprout Social worth $17,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Sprout Social by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company's stock worth $253,609,000 after acquiring an additional 191,471 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Sprout Social by 244.1% in the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company's stock worth $219,692,000 after purchasing an additional 3,124,376 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Sprout Social by 27.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company's stock worth $197,183,000 after purchasing an additional 853,127 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Sprout Social by 6.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company's stock worth $155,587,000 after buying an additional 153,642 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Sprout Social by 14.3% in the 3rd quarter. Blair William & Co. IL now owns 1,234,224 shares of the company's stock worth $61,563,000 after buying an additional 154,369 shares during the period.

Insider Buying and Selling at Sprout Social

In other news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the sale, the chief executive officer now directly owns 287,912 shares in the company, valued at $16,802,544.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the chief financial officer now owns 172,644 shares in the company, valued at $10,294,761.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares of the company's stock, valued at approximately $16,802,544.32. The disclosure for this sale can be found here. Insiders sold a total of 110,600 shares of company stock worth $5,738,830 over the last three months. Corporate insiders own 10.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. KeyCorp downgraded shares of Sprout Social from an "overweight" rating to a "sector weight" rating in a report on Friday, May 3rd. Piper Sandler cut shares of Sprout Social from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Needham & Company LLC reissued a "buy" rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Thursday, May 16th. Barclays reduced 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, May 3rd. Finally, Morgan Stanley reduced their target price on shares of Sprout Social from $65.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.07.

Sprout Social Price Performance

SPT traded up $1.02 during trading on Wednesday, hitting $32.07. The stock had a trading volume of 961,952 shares, compared to its average volume of 926,499. Sprout Social, Inc. has a twelve month low of $25.68 and a twelve month high of $68.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $48.50 and a two-hundred day simple moving average of $55.52.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. As a group, research analysts forecast 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.