Clearbridge Investments LLC Sells 325,636 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Clearbridge Investments LLC lessened its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,564,758 shares of the company's stock after selling 325,636 shares during the period. Clearbridge Investments LLC owned approximately 4.47% of Sprout Social worth $78,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPT. Quarry LP boosted its stake in shares of Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company's stock valued at $46,000 after purchasing an additional 790 shares in the last quarter. US Bancorp DE raised its stake in shares of 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 acquiring an additional 1,627 shares during the last quarter. KBC Group NV boosted its holdings in shares of Sprout Social by 77.1% in 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 in the last quarter. Yarbrough Capital LLC acquired a new position in shares of Sprout Social in the 4th quarter worth approximately $206,000. Finally, PNC Financial Services Group Inc. grew its position in Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock worth $265,000 after acquiring an additional 2,533 shares during the last quarter.

Sprout Social Trading Down 2.4 %

Sprout Social stock traded down $0.51 during midday trading on Friday, hitting $20.23. 750,303 shares of the stock were exchanged, compared to its average volume of 740,465. Sprout Social, Inc. has a 52 week low of $19.21 and a 52 week high of $59.04. 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 stock has a market capitalization of $1.17 billion, a PE ratio of -16.72 and a beta of 1.11. The company has a fifty day simple moving average of $27.88 and a two-hundred day simple moving average of $29.43.

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

Analyst Ratings Changes

A number of research firms have commented on SPT. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Needham & Company LLC reduced their price target 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. The Goldman Sachs Group lowered their price objective on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank decreased their price target on shares of 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $33.85.

Insider Transactions at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the sale, the director now directly owns 30,665 shares in the company, valued at $927,922.90. The trade was a 14.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the transaction, the director now directly owns 42,122 shares of the company's stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,646 shares of company stock valued at $3,302,919 over the last 90 days. 10.97% of the stock is owned by company insiders.

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.