Connor Clark & Lunn Investment Management Ltd. Purchases 31,846 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,194 shares of the company's stock after buying an additional 31,846 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.38% of Sprout Social worth $6,372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dorsey Asset Management LLC acquired a new position in Sprout Social in the 2nd quarter valued at approximately $61,583,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sprout Social during the first quarter worth $22,332,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Sprout Social by 98.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock worth $23,726,000 after acquiring an additional 330,309 shares in the last quarter. Millennium Management LLC boosted its position in Sprout Social by 9,779.5% during the second quarter. Millennium Management LLC now owns 331,260 shares of the company's stock valued at $11,819,000 after purchasing an additional 327,907 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Sprout Social by 20.0% in 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 in the last quarter.

Sprout Social Price Performance

NASDAQ SPT traded up $1.78 on Friday, reaching $32.10. The company's stock had a trading volume of 393,195 shares, compared to its average volume of 593,423. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. 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 firm has a market cap of $1.84 billion, a PE ratio of -26.75 and a beta of 0.99. The business has a 50-day moving average price of $28.46 and a 200 day moving average price of $31.37.

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

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the sale, the chief executive officer now directly owns 170,175 shares of the company's stock, valued at approximately $4,807,443.75. The trade was a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $209,381.91. This trade represents a 72.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,882 shares of company stock worth $1,801,351. 10.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler decreased their target price on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. Barclays lowered their target price on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, October 11th. Robert W. Baird boosted their price target on Sprout Social from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Finally, Scotiabank began coverage on Sprout Social in a report on Monday, November 18th. They issued a "sector perform" rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sprout Social has an average rating of "Hold" and a consensus price target of $45.62.

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.