TimesSquare Capital Management LLC Trims Position in Sprout Social, Inc. (NASDAQ:SPT)

TimesSquare Capital Management LLC reduced its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 286,424 shares of the company’s stock after selling 99,318 shares during the period. TimesSquare Capital Management LLC’s holdings in Sprout Social were worth $17,598,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC acquired a new stake in shares of Sprout Social during the 3rd quarter worth approximately $37,000. Guinness Atkinson Asset Management Inc acquired a new position in Sprout Social in the third quarter valued at about $40,000. DekaBank Deutsche Girozentrale purchased a new position in Sprout Social during the third quarter worth about $47,000. PNC Financial Services Group Inc. boosted its stake in Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after buying an additional 323 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Sprout Social by 14.5% during the third quarter. Headlands Technologies LLC now owns 4,110 shares of the company’s stock valued at $205,000 after acquiring an additional 522 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the sale, the chief executive officer now owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,600 shares of company stock valued at $5,738,830. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Stock Performance

Sprout Social stock traded down $0.06 during trading hours on Friday, reaching $28.43. 154,943 shares of the stock were exchanged, compared to its average volume of 845,291. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average is $53.29 and its 200 day moving average is $56.14. Sprout Social, Inc. has a 52-week low of $25.68 and a 52-week high of $68.41. The stock has a market cap of $1.60 billion, a P/E ratio of -22.79 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The business had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. Analysts predict that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Oppenheimer lowered their target price on Sprout Social from $76.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Morgan Stanley lowered their price objective on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 19th. KeyCorp downgraded shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 3rd. Finally, Cantor Fitzgerald dropped their price objective on Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

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.