Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Wasatch Advisors LP

Wasatch Advisors LP raised its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 2.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,765,591 shares of the company’s stock after acquiring an additional 43,262 shares during the quarter. Wasatch Advisors LP’s holdings in Sprout Social were worth $105,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Sprout Social by 3.9% in the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock valued at $253,609,000 after purchasing an additional 191,471 shares during the period. Wellington Management Group LLP boosted its stake in shares of Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock valued at $197,183,000 after buying an additional 853,127 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Sprout Social by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after acquiring an additional 153,642 shares during the period. Principal Financial Group Inc. raised its position in Sprout Social by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 867,629 shares of the company’s stock worth $53,307,000 after acquiring an additional 2,394 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Sprout Social by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 709,169 shares of the company’s stock valued at $43,571,000 after acquiring an additional 56,907 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPT. KeyCorp downgraded shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd. Piper Sandler downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Morgan Stanley lowered their price target on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group cut Sprout Social from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $44.00 in a report on Friday, May 3rd. Finally, Robert W. Baird dropped their price target on Sprout Social from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.57.

Sprout Social Trading Down 2.4 %

NASDAQ:SPT traded down $0.90 on Tuesday, reaching $36.37. The stock had a trading volume of 662,543 shares, compared to its average volume of 902,052. Sprout Social, Inc. has a 12-month low of $25.68 and a 12-month high of $68.41. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -29.10 and a beta of 1.00. The firm’s fifty day moving average is $34.81 and its two-hundred day moving average is $51.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. The business had revenue of $96.78 million for the quarter, compared to the consensus estimate of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. Equities analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of Sprout Social stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $1,252,900.00. Following the completion of the sale, the director now owns 44,487 shares in the company, valued at approximately $2,533,534.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the transaction, the director now owns 44,487 shares of the company’s stock, valued at $2,533,534.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Insiders have sold 108,870 shares of company stock worth $4,638,548 over the last quarter. 10.97% of the stock is currently owned by insiders.

About Sprout Social

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.