Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,070,719 shares of the company’s stock after selling 13,670 shares during the quarter. Vanguard Group Inc. owned 9.01% of Sprout Social worth $311,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in shares of Sprout Social by 5.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 306,640 shares of the company’s stock valued at $18,840,000 after purchasing an additional 16,726 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Sprout Social by 20.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 94,047 shares of the company’s stock worth $5,777,000 after purchasing an additional 15,662 shares in the last quarter. G2 Investment Partners Management LLC acquired a new stake in shares of Sprout Social during the 4th quarter valued at about $6,704,000. Public Employees Retirement Association of Colorado grew its stake in shares of Sprout Social by 2,935.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock valued at $12,790,000 after buying an additional 201,307 shares in the last quarter. Finally, Premier Fund Managers Ltd acquired a new position in Sprout Social in the fourth quarter worth approximately $282,000.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 5,600 shares of the company’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 value of $318,920.00. Following the sale, the president now directly owns 198,175 shares in the company, valued at approximately $11,286,066.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the sale, the president now owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the transaction, the chief executive officer now directly owns 398,229 shares of the company’s stock, valued at $13,559,697.45. The disclosure for this sale can be found here. In the last three months, insiders sold 108,870 shares of company stock valued at $4,673,003. Company insiders own 10.97% of the company’s stock.

Analyst Upgrades and Downgrades

SPT has been the subject of several recent research reports. Barclays decreased their target price on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Cantor Fitzgerald lowered their target price on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley reduced their price target on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, May 3rd. BTIG Research lowered Sprout Social from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, KeyCorp lowered Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.57.

Sprout Social Stock Up 4.7 %

SPT stock opened at $35.68 on Friday. Sprout Social, Inc. has a twelve month low of $25.68 and a twelve month high of $68.41. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.02 billion, a PE ratio of -28.54 and a beta of 0.99. The business’s 50-day simple moving average is $35.41 and its 200 day simple moving average is $51.48.

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

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.