Ironwood Investment Management LLC Takes Position in Sprout Social, Inc. (NASDAQ:SPT)

Ironwood Investment Management LLC acquired a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,346 shares of the company's stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPT. Swiss National Bank lifted its position in Sprout Social by 1.3% during the 4th quarter. Swiss National Bank now owns 99,141 shares of the company's stock worth $3,045,000 after acquiring an additional 1,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sprout Social by 24.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 272,501 shares of the company's stock worth $8,369,000 after purchasing an additional 53,307 shares during the last quarter. Ceera Investments LLC boosted its position in Sprout Social by 85.0% in the fourth quarter. Ceera Investments LLC now owns 18,160 shares of the company's stock valued at $558,000 after buying an additional 8,343 shares during the last quarter. Amundi increased its holdings in Sprout Social by 37.5% in the 4th quarter. Amundi now owns 34,699 shares of the company's stock worth $1,099,000 after buying an additional 9,464 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in 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 buying an additional 2,533 shares during the period.

Insider Buying and Selling

In other news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the completion of the sale, the director now owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the transaction, the insider now owns 7,417 shares in the company, valued at $241,720.03. This represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,800 shares of company stock worth $3,242,332. 10.97% of the stock is owned by insiders.

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Sprout Social Price Performance

SPT stock traded up $0.40 during trading on Friday, hitting $23.97. The stock had a trading volume of 774,073 shares, compared to its average volume of 649,438. Sprout Social, Inc. has a twelve month low of $22.95 and a twelve month high of $62.34. The company's 50-day moving average price is $30.16 and its two-hundred day moving average price is $29.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.38 billion, a P/E ratio of -19.97 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 40.94% and a negative net margin of 17.24%. As a group, research analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on Sprout Social from $34.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on Sprout Social from $37.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group decreased their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. 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. According to MarketBeat.com, Sprout Social has an average rating of "Hold" and an average target price of $33.85.

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.