ArrowMark Colorado Holdings LLC Purchases 1,403,549 Shares of Sprout Social, Inc. (NASDAQ:SPT)

ArrowMark Colorado Holdings LLC boosted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 380.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,772,219 shares of the company's stock after buying an additional 1,403,549 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 3.09% of Sprout Social worth $54,425,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SPT. US Bancorp DE raised its stake in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after purchasing an additional 1,627 shares in the last quarter. KBC Group NV lifted its holdings in shares of Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after acquiring an additional 1,099 shares during the last quarter. Yarbrough Capital LLC purchased a new position in Sprout Social in the fourth quarter worth $206,000. PNC Financial Services Group Inc. boosted its holdings in shares of Sprout Social by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock worth $265,000 after purchasing an additional 2,533 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Sprout Social during the 4th quarter valued at about $338,000.

Sprout Social Stock Up 4.6 %

Shares of NASDAQ:SPT traded up $0.95 during trading on Thursday, hitting $21.59. The stock had a trading volume of 307,844 shares, compared to its average volume of 676,513. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. The company has a market capitalization of $1.25 billion, a PE ratio of -17.99 and a beta of 1.20. The firm's fifty day moving average is $22.16 and its 200 day moving average is $27.93.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million for the quarter, compared to analysts' expectations of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Justyn Russell Howard sold 40,000 shares of the firm'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 owns 7,417 shares of the company's stock, valued at $148,265.83. This trade represents a 84.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the sale, the director now directly owns 25,665 shares of the company's stock, valued at approximately $498,414.30. This trade represents a 16.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,446 shares of company stock worth $2,644,639. 10.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SPT. Needham & Company LLC lowered their price objective on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Canaccord Genuity Group reduced their price objective on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price target on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $32.15.

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.