Arizona State Retirement System Has $497,000 Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Arizona State Retirement System lifted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,934 shares of the company’s stock after buying an additional 529 shares during the quarter. Arizona State Retirement System’s holdings in Sprout Social were worth $497,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado lifted its stake in Sprout Social by 2,935.8% in the fourth 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. Stifel Financial Corp increased its stake in shares of Sprout Social by 77.5% in the fourth quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock valued at $5,885,000 after buying an additional 41,834 shares during the period. Picton Mahoney Asset Management increased its stake in shares of Sprout Social by 642.5% in the first quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company’s stock valued at $1,304,000 after buying an additional 18,890 shares during the period. Jennison Associates LLC increased its position in Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after purchasing an additional 311,146 shares during the period. Finally, Clearbridge Investments LLC increased its position in Sprout Social by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock valued at $154,882,000 after purchasing an additional 61,568 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays cut their target price on Sprout Social from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Thursday, August 22nd. Robert W. Baird lifted their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.31.

Insider Buying and Selling

In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.66, for a total value of $54,990.00. Following the completion of the transaction, the chief financial officer now owns 165,624 shares of the company’s stock, valued at approximately $6,071,775.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 11,200 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.10, for a total transaction of $404,320.00. Following the sale, the president now directly owns 186,975 shares of the company’s stock, valued at $6,749,797.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $36.66, for a total transaction of $54,990.00. Following the transaction, the chief financial officer now owns 165,624 shares in the company, valued at $6,071,775.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,282 shares of company stock worth $2,670,776. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $27.93 on Tuesday. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50 day simple moving average is $32.90 and its 200-day simple moving average is $40.14. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -22.34 and a beta of 0.98.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) EPS. As a group, equities analysts forecast that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

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.