King Luther Capital Management Corp Cuts Position in Sprout Social, Inc. (NASDAQ:SPT)

King Luther Capital Management Corp lessened its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 75.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,772 shares of the company's stock after selling 24,428 shares during the period. King Luther Capital Management Corp's holdings in Sprout Social were worth $239,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its stake in Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE lifted its stake in Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV lifted 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 worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. lifted its stake in Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock worth $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Sprout Social during the fourth quarter worth $206,000.

Sprout Social Trading Up 1.7 %

Shares of SPT stock traded up $0.40 during mid-day trading on Friday, hitting $23.97. The company's stock had a trading volume of 774,073 shares, compared to its average volume of 649,438. The company's fifty day simple moving average is $30.16 and its 200-day simple moving average is $29.90. Sprout Social, Inc. has a 52 week low of $22.95 and a 52 week high of $62.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $1.38 billion, a PE ratio of -19.97 and a beta of 1.11.

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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 return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, equities research analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPT shares. Needham & Company LLC lowered their price target 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. Oppenheimer lowered their price target on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, December 3rd. The Goldman Sachs Group lowered their price target on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group upped their price target on shares of Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Canaccord Genuity Group decreased their price objective 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 equities 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.85.

Insider Transactions at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the completion of the sale, the insider now directly owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the sale, the director now owns 30,665 shares of the company's stock, valued at approximately $927,922.90. This represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,800 shares of company stock valued at $3,242,332. Corporate insiders own 10.97% of the company's stock.

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.