Connor Clark & Lunn Investment Management Ltd. Has $8.37 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 272,501 shares of the company's stock after acquiring an additional 53,307 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.47% of Sprout Social worth $8,369,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP grew its position in Sprout Social by 100.9% in the third quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after acquiring an additional 790 shares in the last quarter. US Bancorp DE lifted its holdings in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV boosted its position in Sprout Social by 77.1% during 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. Assetmark Inc. raised its position in shares of Sprout Social by 27.5% in 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. Finally, Yarbrough Capital LLC acquired a new stake in shares of Sprout Social in the fourth quarter worth $206,000.

Sprout Social Trading Up 3.6 %

Shares of NASDAQ SPT traded up $0.87 during midday trading on Monday, reaching $24.84. 164,009 shares of the stock were exchanged, compared to its average volume of 639,418. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social, Inc. has a 12 month low of $22.95 and a 12 month high of $62.34. The business has a 50-day simple moving average of $30.16 and a two-hundred day simple moving average of $29.90. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -20.70 and a beta of 1.11.

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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 (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. As a group, equities research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 7,417 shares of the company's stock, valued at approximately $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,800 shares of company stock valued at $3,242,332. 10.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their target price on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC lowered their price target on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Scotiabank dropped their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Finally, Barclays dropped their target price on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Sprout Social currently has a consensus rating of "Hold" and a consensus target price of $33.85.

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.