Clearbridge Investments LLC Has $78.76 Million Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Clearbridge Investments LLC cut its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,564,758 shares of the company’s stock after selling 325,636 shares during the period. Clearbridge Investments LLC owned approximately 4.47% of Sprout Social worth $78,764,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SPT. Quarry LP increased its position in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after acquiring an additional 790 shares during the last quarter. US Bancorp DE increased its stake in shares of Sprout Social by 2,392.6% during 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 raised its holdings in shares of Sprout Social by 77.1% in 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. Yarbrough Capital LLC purchased a new position in Sprout Social in the fourth quarter valued at approximately $206,000. Finally, PNC Financial Services Group Inc. grew its holdings in Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock valued at $265,000 after purchasing an additional 2,533 shares during the period.

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the sale, the director now owns 30,665 shares in the company, valued at approximately $927,922.90. This trade represents a 14.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares in the company, valued at $1,035,358.76. This represents a 35.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,646 shares of company stock worth $3,302,919 in the last ninety days. 10.97% of the stock is owned by company insiders.

Sprout Social Stock Performance

Sprout Social stock opened at $21.99 on Tuesday. Sprout Social, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $59.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $1.27 billion, a P/E ratio of -18.32 and a beta of 1.11. The firm’s fifty day moving average price is $28.57 and its 200-day moving average price is $29.59.

Sprout Social (NASDAQ:SPT) last issued its 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 during the quarter, compared to analysts’ expectations of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, equities research analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPT has been the subject of several recent research reports. Stifel Nicolaus decreased their price objective on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Scotiabank dropped their target price 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. Piper Sandler reduced their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer dropped their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.85.

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.