Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC boosted its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 380.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,772,219 shares of the company's stock after purchasing an additional 1,403,549 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 3.09% of Sprout Social worth $54,425,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in shares of Sprout Social by 0.4% during the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company's stock valued at $2,553,000 after purchasing an additional 351 shares during the period. Invesco Ltd. raised its holdings in shares of Sprout Social by 1.8% during the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company's stock valued at $702,000 after purchasing an additional 397 shares in the last quarter. Franklin Resources Inc. grew its holdings in Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after purchasing an additional 1,034 shares during the last quarter. Sei Investments Co. grew its position in shares of Sprout Social by 3.0% in the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company's stock valued at $1,102,000 after purchasing an additional 1,038 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after acquiring an additional 1,099 shares during the period.

Sprout Social Price Performance

Sprout Social stock opened at $21.44 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -17.87 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $22.55 and its 200 day moving average is $28.09. Sprout Social, Inc. has a 52-week low of $18.52 and a 52-week high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $106.74 million. Sell-side analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SPT shares. Needham & Company LLC reduced their target price on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler cut their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Scotiabank dropped their price objective on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.15.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the completion of the transaction, the director now directly owns 25,665 shares of the company's stock, valued at approximately $498,414.30. This represents a 16.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $19.99, for a total transaction of $799,600.00. Following the sale, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $148,265.83. This represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $3,115,839 over the last quarter. 10.12% of the stock is currently owned by company insiders.

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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