King Luther Capital Management Corp Sells 130,489 Shares of Sprout Social, Inc. (NASDAQ:SPT)

King Luther Capital Management Corp lowered its stake in Sprout Social, Inc. (NASDAQ:SPT) by 45.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,550 shares of the company’s stock after selling 130,489 shares during the quarter. King Luther Capital Management Corp owned approximately 0.27% of Sprout Social worth $5,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SPT. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social in the 1st quarter valued at about $27,000. Arizona State Retirement System raised its holdings in shares of Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after buying an additional 529 shares in the last quarter. Lazard Asset Management LLC raised 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 valued at $111,000 after buying an additional 613 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Sprout Social during the 1st quarter valued at about $37,000. Finally, Assetmark Inc. raised its holdings in shares of Sprout Social by 28.9% during the 4th quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after buying an additional 650 shares in the last quarter.

Insiders Place Their Bets

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s 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 completion of the sale, the director now owns 42,122 shares in the company, valued at $1,231,226.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the sale, the president now owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,282 shares of company stock valued at $2,670,776. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Trading Down 2.2 %

NASDAQ SPT opened at $28.38 on Friday. 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 twelve month low of $25.05 and a twelve month high of $68.41. The firm has a market capitalization of $1.60 billion, a PE ratio of -22.70 and a beta of 0.98. The stock’s 50 day moving average is $32.42 and its 200 day moving average is $39.49.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPT. Barclays decreased their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Robert W. Baird lifted their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating 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 target on the stock. in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $51.31.

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.