Sprout Social, Inc. (NASDAQ:SPT) Stake Increased by Wasatch Advisors LP

Wasatch Advisors LP lifted its position in Sprout Social, Inc. (NASDAQ:SPT) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,765,591 shares of the company’s stock after acquiring an additional 43,262 shares during the quarter. Wasatch Advisors LP owned 3.14% of Sprout Social worth $105,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Sprout Social by 3.6% during the third quarter. Rhumbline Advisers now owns 68,911 shares of the company’s stock worth $3,437,000 after buying an additional 2,412 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after purchasing an additional 323 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Sprout Social in the third quarter worth $250,000. Envestnet Asset Management Inc. increased its holdings in shares of Sprout Social by 24.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 104,059 shares of the company’s stock worth $5,190,000 after purchasing an additional 20,247 shares during the period. Finally, Stifel Financial Corp raised its holdings in Sprout Social by 15.1% in the 3rd quarter. Stifel Financial Corp now owns 53,955 shares of the company’s stock valued at $2,691,000 after acquiring an additional 7,094 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on SPT shares. William Blair reissued a “market perform” rating on shares of Sprout Social in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a report on Friday, June 7th. Piper Sandler lowered shares of Sprout Social from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $40.00 in a research note on Friday, May 3rd. BTIG Research cut shares of Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Finally, Oppenheimer dropped their target price on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social has an average rating of “Moderate Buy” and a consensus price target of $56.57.

Sprout Social Price Performance

NASDAQ:SPT traded down $0.90 during mid-day trading on Tuesday, hitting $36.37. 662,543 shares of the stock traded hands, compared to its average volume of 902,052. The company has a market cap of $2.06 billion, a PE ratio of -29.10 and a beta of 1.00. Sprout Social, Inc. has a 12-month low of $25.68 and a 12-month high of $68.41. The business’s 50-day moving average price is $34.81 and its 200 day moving average price is $51.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The company had revenue of $96.78 million during 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%. On average, analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available through this link. In other news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $318,920.00. Following the sale, the president now directly owns 198,175 shares of the company’s stock, valued at $11,286,066.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 22,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value 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 disclosure for this sale can be found here. Insiders have sold 108,870 shares of company stock valued at $4,638,548 in the last ninety days. 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.