Wasatch Advisors LP Sells 127,399 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Wasatch Advisors LP lowered its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,830,726 shares of the company's stock after selling 127,399 shares during the quarter. Wasatch Advisors LP owned about 3.19% of Sprout Social worth $56,222,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Invesco Ltd. raised its position in shares of Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company's stock worth $702,000 after acquiring an additional 397 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 worth $576,000 after purchasing an additional 1,034 shares during the period. Sei Investments Co. boosted its holdings in shares of Sprout Social by 3.0% in the 4th quarter. Sei Investments Co. now owns 35,893 shares of the company's stock valued at $1,102,000 after acquiring an additional 1,038 shares during the last quarter. KBC Group NV grew its position in Sprout Social by 77.1% during the 4th 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 lifted its stake in shares of 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 purchasing an additional 1,274 shares during the period.

Insider Transactions at Sprout Social

In related news, 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 transaction, the director now directly owns 42,122 shares in the company, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the completion of the transaction, the insider now owns 7,417 shares of the company's stock, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock valued at $3,115,839 over the last quarter. Company insiders own 10.97% of the company's stock.

Sprout Social Stock Performance

Shares of SPT traded down $0.75 during mid-day trading on Monday, hitting $18.89. The stock had a trading volume of 158,532 shares, compared to its average volume of 680,030. Sprout Social, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $53.96. 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 company has a market cap of $1.09 billion, a PE ratio of -15.74 and a beta of 1.11. The company's fifty day simple moving average is $24.42 and its two-hundred day simple moving average is $28.64.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million for the quarter, compared to analyst estimates 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, equities analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday. Canaccord Genuity Group decreased their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Barclays dropped their price objective on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a report on Monday. Scotiabank cut their price objective on 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. Finally, Jefferies Financial Group lifted their target price on Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $32.15.

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.