Brighton Jones LLC Boosts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC increased its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,852 shares of the company’s stock after buying an additional 2,411 shares during the period. Brighton Jones LLC’s holdings in Sprout Social were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPT. Fidelis Capital Partners LLC purchased a new stake in Sprout Social during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new stake in shares of Sprout Social in the first quarter worth approximately $37,000. Covestor Ltd increased its position in shares of Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after purchasing an additional 709 shares in the last quarter. Bessemer Group Inc. acquired a new position in Sprout Social in the 1st quarter valued at $61,000. Finally, nVerses Capital LLC lifted its holdings in Sprout Social by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after purchasing an additional 1,300 shares in the last quarter.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the sale, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,231,226.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the completion of the transaction, the president now directly owns 470,809 shares in the company, valued at $13,761,747.07. The disclosure for this sale can be found here. Insiders have sold a total of 82,282 shares of company stock worth $2,670,776 in the last ninety days. 10.97% of the stock is owned by corporate insiders.

Sprout Social Stock Performance

NASDAQ:SPT opened at $28.38 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $1.60 billion, a P/E ratio of -22.70 and a beta of 0.98. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The company has a 50 day moving average price of $32.42 and a 200 day moving average price of $39.49.

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