Sprout Social, Inc. (NASDAQ:SPT) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 52.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,157 shares of the company’s stock after buying an additional 19,213 shares during the quarter. M&T Bank Corp’s holdings in Sprout Social were worth $1,724,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPT. Quarry LP increased its holdings in Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after acquiring an additional 790 shares in the last quarter. Assetmark Inc. increased its stake in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Sprout Social by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after purchasing an additional 1,034 shares during the last quarter. KBC Group NV lifted its stake in Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after buying an additional 1,099 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Sprout Social by 8.1% in the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock worth $523,000 after buying an additional 1,274 shares during the last quarter.

Sprout Social Stock Down 4.0 %

Shares of NASDAQ SPT opened at $24.53 on Monday. The company has a market capitalization of $1.41 billion, a P/E ratio of -20.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day simple moving average of $30.91 and a 200-day simple moving average of $30.20. Sprout Social, Inc. has a 1 year low of $24.00 and a 1 year high of $62.34.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. On average, equities research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPT shares. Scotiabank reduced their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group increased their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Barclays dropped their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group decreased their price target on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and a consensus price target of $33.85.

Insider Activity at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. The trade was a 12.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the transaction, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,800 shares of company stock worth $3,413,532. Company insiders own 10.97% of the company’s stock.

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.