ArrowMark Colorado Holdings LLC Makes New $10.72 Million Investment in Sprout Social, Inc. (NASDAQ:SPT)

ArrowMark Colorado Holdings LLC acquired a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 368,670 shares of the company's stock, valued at approximately $10,717,000. ArrowMark Colorado Holdings LLC owned approximately 0.65% of Sprout Social at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPT. Arizona State Retirement System raised its position in Sprout Social by 3.9% in the second quarter. Arizona State Retirement System now owns 13,934 shares of the company's stock worth $497,000 after acquiring an additional 529 shares during the period. Diversified Trust Co raised its holdings in shares of Sprout Social by 3.8% in the 3rd quarter. Diversified Trust Co now owns 15,770 shares of the company's stock worth $458,000 after purchasing an additional 571 shares during the period. Truist Financial Corp lifted its stake in Sprout Social by 6.1% in the second quarter. Truist Financial Corp now owns 11,260 shares of the company's stock valued at $402,000 after purchasing an additional 646 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Sprout Social by 3.9% during the second quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company's stock valued at $712,000 after purchasing an additional 750 shares during the period. Finally, Quarry LP increased its position in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company's stock worth $28,000 after buying an additional 751 shares during the last quarter.

Insider Activity

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Justyn Russell Howard sold 20,000 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares in the company, valued at approximately $209,381.91. This trade represents a 72.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,787 shares of company stock valued at $1,505,060. Insiders own 10.97% of the company's stock.

Sprout Social Price Performance

Shares of NASDAQ SPT traded down $0.47 during trading hours on Tuesday, reaching $30.98. 149,457 shares of the stock traded hands, compared to its average volume of 733,083. The company has a market capitalization of $1.78 billion, a P/E ratio of -25.96 and a beta of 1.02. The company's 50-day simple moving average is $28.82 and its two-hundred day simple moving average is $31.52. 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 52-week low of $25.05 and a 52-week high of $68.41.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analysts' expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Equities research analysts forecast that Sprout Social, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPT. Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target on the stock. Piper Sandler decreased their price objective on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. KeyCorp lowered Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Oppenheimer lowered their price target on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Barclays decreased their target price on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.46.

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.