ArrowMark Colorado Holdings LLC Makes New $10.72 Million Investment in Sprout Social, Inc. (NASDAQ:SPT)

ArrowMark Colorado Holdings LLC acquired a new position in Sprout Social, Inc. (NASDAQ:SPT) during the third quarter, according to its most recent filing with the SEC. The firm acquired 368,670 shares of the company’s stock, valued at approximately $10,717,000.

Other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Sprout Social by 148.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,709 shares of the company’s stock valued at $560,000 after purchasing an additional 9,398 shares in the last quarter. Legal Advantage Investments Inc. grew its holdings in shares of Sprout Social by 52.7% during the 2nd quarter. Legal Advantage Investments Inc. now owns 28,975 shares of the company’s stock worth $1,034,000 after acquiring an additional 10,000 shares during the period. Diversified Trust Co grew its holdings in shares of Sprout Social by 7.0% during the 2nd quarter. Diversified Trust Co now owns 15,199 shares of the company’s stock worth $542,000 after acquiring an additional 992 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Sprout Social by 98.7% in the 2nd 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sprout Social by 28.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,463 shares of the company’s stock valued at $445,000 after purchasing an additional 2,729 shares during the period.

Insider Buying and Selling

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the sale, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,787 shares of company stock valued at $1,505,060 over the last 90 days. Company insiders own 10.97% of the company’s stock.

Sprout Social Price Performance

Shares of SPT opened at $31.45 on Tuesday. The business’s fifty day simple moving average is $28.82 and its two-hundred day simple moving average is $31.52. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month 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.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 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 -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SPT. Barclays reduced their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Oppenheimer reduced their target price on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Thursday, August 22nd. Scotiabank started coverage on shares of Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 price objective on the stock. Finally, 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 note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprout Social has an average rating of “Hold” and a consensus price target of $45.62.

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.