M&T Bank Corp Has $1.72 Million Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

M&T Bank Corp boosted its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 52.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,157 shares of the company's stock after buying an additional 19,213 shares during the period. M&T Bank Corp owned 0.10% of Sprout Social worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPT. Quarry LP increased its position in 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 acquiring an additional 790 shares during the period. Assetmark Inc. increased its holdings in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock valued at $108,000 after purchasing an additional 801 shares during the period. Franklin Resources Inc. raised its stake in shares of Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after purchasing an additional 1,034 shares in the last quarter. KBC Group NV lifted its holdings in Sprout Social by 77.1% in 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 period. Finally, Diversified Trust Co grew its position in Sprout Social by 8.1% in the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company's stock valued at $523,000 after buying an additional 1,274 shares in the last quarter.

Insider Buying and Selling

In other news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now owns 35,665 shares in the company, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the sale, the insider now owns 7,417 shares in the company, valued at $241,720.03. This represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,800 shares of company stock worth $3,413,532. Corporate insiders own 10.97% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Barclays decreased their price target on Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Oppenheimer dropped their price objective on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank dropped 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.85.

Sprout Social Stock Up 2.7 %

NASDAQ SPT traded up $0.63 on Wednesday, reaching $24.06. The stock had a trading volume of 140,718 shares, compared to its average volume of 634,304. Sprout Social, Inc. has a 1 year low of $22.95 and a 1 year high of $62.34. The business has a 50 day moving average price of $30.61 and a 200 day moving average price of $30.07. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -20.06 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued 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). The business had revenue of $107.09 million for 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%. On average, analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.