Lisanti Capital Growth LLC Acquires 64,370 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Lisanti Capital Growth LLC grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 168.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 102,655 shares of the company’s stock after purchasing an additional 64,370 shares during the quarter. Sprout Social accounts for 1.5% of Lisanti Capital Growth LLC’s holdings, making the stock its 17th largest position. Lisanti Capital Growth LLC’s holdings in Sprout Social were worth $6,307,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. RiverPark Advisors LLC purchased a new position in shares of Sprout Social in the third quarter valued at $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Sprout Social during the 3rd quarter valued at about $40,000. DekaBank Deutsche Girozentrale purchased a new position in Sprout Social in the third quarter worth about $47,000. PNC Financial Services Group Inc. grew its position in Sprout Social by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Sprout Social by 14.5% during the third quarter. Headlands Technologies LLC now owns 4,110 shares of the company’s stock worth $205,000 after acquiring an additional 522 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPT has been the subject of a number of recent research reports. Robert W. Baird cut Sprout Social from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $45.00 in a report on Friday. Oppenheimer cut their price objective on shares of Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday. William Blair reissued a “market perform” rating on shares of Sprout Social in a research note on Friday. The Goldman Sachs Group cut shares of Sprout Social from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $44.00 in a research note on Friday. Finally, Piper Sandler downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their price target for the company from $66.00 to $40.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.07.

Insiders Place Their Bets

In other news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the transaction, the chief executive officer now directly owns 406,636 shares in the company, valued at approximately $22,983,066.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the sale, the chief financial officer now owns 172,644 shares of the company’s stock, valued at $10,294,761.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,100 shares of company stock worth $5,126,065. 10.97% of the stock is owned by corporate insiders.

Sprout Social Stock Down 1.9 %

NASDAQ SPT traded down $0.54 during trading on Monday, reaching $28.28. 3,159,885 shares of the company’s stock traded hands, compared to its average volume of 781,034. The company’s 50 day simple moving average is $55.98 and its two-hundred day simple moving average is $56.80. Sprout Social, Inc. has a 12-month low of $27.75 and a 12-month high of $68.41. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -22.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08.

Sprout Social (NASDAQ:SPT) last posted its earnings results 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 company had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. As a group, sell-side analysts forecast that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

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.