Landscape Capital Management L.L.C. Purchases 34,626 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Landscape Capital Management L.L.C. lifted its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 35.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,405 shares of the company's stock after buying an additional 34,626 shares during the period. Landscape Capital Management L.L.C. owned about 0.23% of Sprout Social worth $3,878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Dorsey Asset Management LLC purchased a new stake in shares of Sprout Social during the second quarter valued at $61,583,000. Jericho Capital Asset Management L.P. bought a new position in Sprout Social during the 1st quarter valued at about $22,332,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock valued at $23,726,000 after acquiring an additional 330,309 shares during the last quarter. Millennium Management LLC grew its stake in shares of Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company's stock worth $11,819,000 after acquiring an additional 327,907 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after purchasing an additional 200,190 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Justyn Russell Howard sold 20,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 7,417 shares in the company, valued at $209,381.91. This trade represents a 72.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the transaction, the chief financial officer now owns 158,614 shares in the company, valued at approximately $4,484,017.78. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock worth $1,801,351 in the last 90 days. Corporate insiders own 10.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPT. Oppenheimer lowered their target price on Sprout Social from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Piper Sandler dropped their price objective on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Scotiabank started coverage on shares of Sprout Social in a research note on Monday. They set a "sector perform" rating and a $28.00 price target on the stock. Finally, Barclays cut their price objective on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Sprout Social has an average rating of "Hold" and a consensus price target of $45.62.

Sprout Social Price Performance

Sprout Social stock opened at $29.63 on Thursday. 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 company's 50 day simple moving average is $28.30 and its 200-day simple moving average is $31.32. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41.

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

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.

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