King Luther Capital Management Corp Sells 122,350 Shares of Sprout Social, Inc. (NASDAQ:SPT)

King Luther Capital Management Corp lowered its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 79.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,200 shares of the company's stock after selling 122,350 shares during the period. King Luther Capital Management Corp owned approximately 0.06% of Sprout Social worth $936,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SPT. Connor Clark & Lunn Investment Management Ltd. grew its position in Sprout Social by 17.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company's stock worth $6,372,000 after purchasing an additional 31,846 shares in the last quarter. Jennison Associates LLC raised its position in Sprout Social by 1.0% during the third quarter. Jennison Associates LLC now owns 2,164,256 shares of the company's stock valued at $62,915,000 after buying an additional 21,186 shares during the period. Quest Partners LLC lifted its stake in Sprout Social by 61,042.9% in the 3rd quarter. Quest Partners LLC now owns 47,080 shares of the company's stock worth $1,369,000 after acquiring an additional 47,003 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Sprout Social by 46.6% in the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company's stock worth $5,486,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Sprout Social in the 3rd quarter valued at approximately $265,000.

Insider Buying and Selling

In other news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares of the company's stock, valued at approximately $4,484,017.78. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Justyn Russell Howard sold 8,595 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total transaction of $251,575.65. Following the sale, the chief executive officer now directly owns 302,217 shares of the company's stock, valued at approximately $8,845,891.59. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock valued at $1,801,351 over the last quarter. Corporate insiders own 10.97% of the company's stock.

Sprout Social Stock Performance

SPT stock traded up $1.78 during mid-day trading on Friday, reaching $32.10. 393,195 shares of the stock traded hands, compared to its average volume of 593,423. 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. The business has a 50-day moving average of $28.46 and a two-hundred day moving average of $31.40. The firm has a market capitalization of $1.84 billion, a PE ratio of -26.75 and a beta of 0.99.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SPT shares. KeyCorp cut shares of Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price target on the stock. in a report on Thursday, August 22nd. Barclays lowered their price target 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. Cantor Fitzgerald restated an "overweight" rating and set a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd. Oppenheimer lowered their price target on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Scotiabank assumed coverage on shares of Sprout Social in a report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.62.

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.