Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTSX returned -21.52%, Advisor Class fund APDSX posted a return of -21.48%, and Institutional Class fund APHSX returned -21.47%, compared to a return of -19.25% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
In the second quarter 2022 investor letter, Artisan Partners discussed stocks like Sprout Social, Inc. (NASDAQ:SPT). Headquartered in Chicago, Illinois, Sprout Social, Inc. (NASDAQ:SPT) is a social media management platform. On September 28, 2022, Sprout Social, Inc. (NASDAQ:SPT) stock closed at $63.21 per share. One-month return of Sprout Social, Inc. (NASDAQ:SPT) was 9.87% and its shares lost 48.17% of their value over the last 52 weeks. Sprout Social, Inc. (NASDAQ:SPT) has a market capitalization of $3.455 billion.
Here is what Artisan Partners specifically said about Sprout Social, Inc. (NASDAQ:SPT) in its Q2 2022 investor letter:
“Sprout Social, Inc. (NASDAQ:SPT) is an industry-leading platform empowering businesses of all sizes to leverage social media—Facebook, Twitter, Instagram, LinkedIn and Pinterest—for marketing, customer care, intelligence gathering, public relations and collecting product feedback, among other use cases. The company has several profit cycle drivers in place. The pace at which the company is adding new customers is inflecting as the importance of social media and the need to connect with customers grows. Brands are increasingly going directly to consumers as more products are purchased online and through social platforms. We also see opportunity for the company to grow within its existing customer base via new product introductions. Lastly, the company has an efficient sales model, receiving nearly all its business through more sophisticated techniques such as inbound marketing. With a clean balance sheet, positive free cash flow and a compelling growth runway ahead, we used Q2’s share price weakness to add to our position.”
Sprout Social, Inc. (NASDAQ:SPT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Sprout Social, Inc. (NASDAQ:SPT) at the end of the second quarter which was 30 in the previous quarter.
We discussed Sprout Social, Inc. (NASDAQ:SPT) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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