Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,501 shares of the company's stock after buying an additional 53,307 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Sprout Social worth $8,369,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SPT. Wellington Management Group LLP grew its position in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock valued at $109,374,000 after purchasing an additional 519,406 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Sprout Social in the third quarter valued at approximately $10,717,000. JPMorgan Chase & Co. grew its position in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of 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. Finally, Edgestream Partners L.P. grew its position in shares of Sprout Social by 362.8% in the third quarter. Edgestream Partners L.P. now owns 125,742 shares of the company's stock valued at $3,655,000 after purchasing an additional 98,574 shares in the last quarter.

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Analyst Upgrades and Downgrades

SPT has been the subject of a number of analyst reports. Oppenheimer dropped their price target on Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price target on Sprout Social from $37.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price objective on Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their price objective on Sprout Social from $34.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.85.

Sprout Social Trading Down 0.9 %

NASDAQ:SPT traded down $0.21 during trading hours on Tuesday, reaching $24.30. 65,101 shares of the stock were exchanged, compared to its average volume of 705,283. 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 business has a 50-day moving average of $30.01 and a two-hundred day moving average of $29.84. Sprout Social, Inc. has a twelve month low of $22.95 and a twelve month high of $62.34. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -20.25 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $107.09 million during 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 predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Activity

In related news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the transaction, the insider now owns 27,136 shares of the company's stock, valued at $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the transaction, the director now directly owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,800 shares of company stock worth $3,242,332. Corporate insiders own 10.97% of the company's stock.

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.