CANADA LIFE ASSURANCE Co Decreases Position in Sprout Social, Inc. (NASDAQ:SPT)

CANADA LIFE ASSURANCE Co cut its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,999 shares of the company's stock after selling 25,149 shares during the period. CANADA LIFE ASSURANCE Co owned 0.22% of Sprout Social worth $3,928,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. grew its stake in Sprout Social by 1.8% during the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company's stock valued at $702,000 after acquiring an additional 397 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Sprout Social by 5.4% during the 3rd 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 in the last quarter. Sei Investments Co. increased its holdings 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 worth $1,102,000 after purchasing an additional 1,038 shares during the period. KBC Group NV boosted its stake in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after buying an additional 1,099 shares during the period. Finally, Diversified Trust Co grew its position in Sprout Social by 8.1% during the fourth quarter. Diversified Trust Co now owns 17,044 shares of the company's stock worth $523,000 after buying an additional 1,274 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the transaction, the chief executive officer now owns 136,575 shares of the company's stock, valued at $2,717,842.50. This trade represents a 10.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company's stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,446 shares of company stock valued at $3,115,839 over the last ninety days. Company insiders own 10.12% of the company's stock.

Sprout Social Trading Up 2.5 %

Shares of SPT traded up $0.52 during trading hours on Thursday, reaching $21.43. 126,144 shares of the company traded hands, compared to its average volume of 748,533. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $51.72. 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 company's fifty day moving average price is $22.80 and its two-hundred day moving average price is $28.19. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -17.89 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Equities research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SPT shares. Jefferies Financial Group raised their price target on Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Needham & Company LLC dropped their target price on Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley reduced 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 lowered their price objective on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One research 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $32.15.

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.