Emerald Advisers LLC Has $7.72 Million Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Emerald Advisers LLC lessened its position in Sprout Social, Inc. (NASDAQ:SPT) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,350 shares of the company’s stock after selling 11,691 shares during the quarter. Emerald Advisers LLC owned about 0.44% of Sprout Social worth $7,719,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in Sprout Social by 17.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company’s stock worth $6,372,000 after buying an additional 31,846 shares during the period. Intech Investment Management LLC bought a new position in Sprout Social during the third quarter worth $448,000. Charles Schwab Investment Management Inc. raised its stake in Sprout Social by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,411 shares of the company’s stock valued at $11,931,000 after purchasing an additional 8,028 shares during the last quarter. FMR LLC boosted its holdings in Sprout Social by 21.4% in the 3rd quarter. FMR LLC now owns 48,599 shares of the company’s stock valued at $1,413,000 after purchasing an additional 8,553 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sprout Social by 12.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,002 shares of the company’s stock worth $407,000 after purchasing an additional 1,539 shares during the last quarter.

Insider Transactions at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares of the company’s stock, valued at approximately $4,753,091.25. The trade was a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,446 shares of company stock worth $3,823,551. Corporate insiders own 10.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPT. Oppenheimer reduced their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Scotiabank reduced their price objective on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Barclays cut their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Sprout Social currently has an average rating of “Hold” and an average target price of $33.85.

Sprout Social Stock Up 0.3 %

NASDAQ SPT opened at $25.17 on Friday. The stock’s 50 day simple moving average is $29.51 and its 200 day simple moving average is $29.70. Sprout Social, Inc. has a one year low of $22.95 and a one year high of $62.34. The firm has a market cap of $1.45 billion, a PE ratio of -20.97 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.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The business had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, sell-side analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share 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.