Charles Schwab Investment Management Inc. Acquires 60,323 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 470,734 shares of the company's stock after buying an additional 60,323 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.82% of Sprout Social worth $14,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock worth $109,374,000 after buying an additional 519,406 shares in the last quarter. Jennison Associates LLC increased its holdings in Sprout Social by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after acquiring an additional 7,311 shares in the last quarter. State Street Corp raised its stake in Sprout Social by 0.5% during the 3rd quarter. State Street Corp now owns 1,227,099 shares of the company's stock worth $35,672,000 after acquiring an additional 5,557 shares during the period. Principal Financial Group Inc. raised its stake in Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock worth $34,868,000 after acquiring an additional 200,190 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Sprout Social by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company's stock valued at $34,179,000 after purchasing an additional 22,320 shares in the last quarter.

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Sprout Social Trading Up 0.4 %

Sprout Social stock traded up $0.10 during midday trading on Monday, reaching $25.27. The stock had a trading volume of 416,289 shares, compared to its average volume of 708,378. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -21.06 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $22.95 and a 52-week high of $62.34. The company has a fifty day moving average of $29.51 and a 200 day moving average of $29.70.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. On average, analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPT has been the topic of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Scotiabank cut their target price on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Oppenheimer decreased their target price 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. Finally, Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.85.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now owns 42,122 shares of the company's stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,446 shares of company stock worth $3,823,551 over the last quarter. Company insiders own 10.97% of the company's stock.

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.