Clearbridge Investments LLC Increases Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Clearbridge Investments LLC grew its stake in Sprout Social, Inc. (NASDAQ:SPT) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,694,797 shares of the company’s stock after acquiring an additional 100,890 shares during the quarter. Clearbridge Investments LLC owned about 4.77% of Sprout Social worth $96,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in Sprout Social in the first quarter valued at approximately $27,000. Arizona State Retirement System lifted its stake in shares of Sprout Social by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after purchasing an additional 529 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Sprout Social by 49.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after purchasing an additional 613 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Sprout Social during the 1st quarter worth $37,000. Finally, Truist Financial Corp increased its position in shares of Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after purchasing an additional 646 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on SPT. Robert W. Baird increased their target price on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays dropped their target price on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Cantor Fitzgerald restated an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Sprout Social currently has an average rating of “Hold” and a consensus price target of $51.31.

Sprout Social Stock Up 0.6 %

Shares of Sprout Social stock opened at $28.57 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41. The company has a market capitalization of $1.63 billion, a P/E ratio of -22.86 and a beta of 0.98. The company has a 50 day moving average of $31.10 and a 200 day moving average of $37.75.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) EPS. As a group, research analysts forecast that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 11,200 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.10, for a total transaction of $404,320.00. Following the sale, the president now owns 186,975 shares of the company’s stock, valued at approximately $6,749,797.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Ryan Paul Barretto sold 11,200 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $36.10, for a total value of $404,320.00. Following the transaction, the president now directly owns 186,975 shares of the company’s stock, valued at approximately $6,749,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the sale, the director now owns 42,122 shares in the company, valued at $1,231,226.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,782 shares of company stock valued at $2,615,786. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social 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.