Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. reduced its position in Sprout Social, Inc. (NASDAQ:SPT) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,575 shares of the company’s stock after selling 400 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Sprout Social were worth $878,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its position in shares of Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after buying an additional 751 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sprout Social in the second quarter worth approximately $218,000. Yarbrough Capital LLC acquired a new stake in shares of Sprout Social in the fourth quarter worth approximately $206,000. Finally, Entropy Technologies LP acquired a new stake in shares of Sprout Social in the third quarter worth approximately $265,000.

Sprout Social Stock Up 1.1 %

SPT stock opened at $32.62 on Tuesday. The company has a market capitalization of $1.87 billion, a P/E ratio of -27.18 and a beta of 1.03. The firm has a 50 day simple moving average of $31.74 and a 200-day simple moving average of $31.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, equities research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares in the company, valued at $859,397.12. The trade was a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares in the company, valued at approximately $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,265 shares of company stock valued at $2,533,406. 10.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Morgan Stanley raised their price target on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Barclays cut their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of “Hold” and an average target price of $42.42.

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.