Charles Schwab Investment Management Inc. Has $11.93 Million Stake in Sprout Social, Inc. (NASDAQ:SPT)

Charles Schwab Investment Management Inc. increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 410,411 shares of the company’s stock after purchasing an additional 8,028 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Sprout Social were worth $11,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. boosted its position in shares of Sprout Social by 35.1% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 133,405 shares of the company’s stock valued at $3,878,000 after acquiring an additional 34,626 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Sprout Social during the third quarter worth approximately $448,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sprout Social by 17.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company’s stock valued at $6,372,000 after acquiring an additional 31,846 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Sprout Social by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 2,164,256 shares of the company’s stock worth $62,915,000 after acquiring an additional 21,186 shares in the last quarter. Finally, Quest Partners LLC grew its position in Sprout Social by 61,042.9% during the 3rd quarter. Quest Partners LLC now owns 47,080 shares of the company’s stock worth $1,369,000 after acquiring an additional 47,003 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays cut their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler reduced their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Oppenheimer lowered their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research note on Friday, November 8th. Finally, KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.46.

Insider Buying and Selling

In other news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now owns 7,417 shares in the company, valued at $209,381.91. The trade was a 72.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at approximately $4,807,443.75. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,765 shares of company stock valued at $1,505,079 in the last 90 days. 10.97% of the stock is owned by insiders.

Sprout Social Stock Performance

SPT stock opened at $32.43 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The business’s fifty day moving average is $29.12 and its 200-day moving average is $31.55. The company has a market cap of $1.86 billion, a P/E ratio of -27.02 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last issued its 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 the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Equities research analysts forecast that Sprout Social, Inc. will post -0.98 EPS for the current year.

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.