Millennium Management LLC Has $11.82 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Millennium Management LLC grew its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 9,779.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 331,260 shares of the company’s stock after purchasing an additional 327,907 shares during the quarter. Millennium Management LLC owned about 0.59% of Sprout Social worth $11,819,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dorsey Asset Management LLC bought a new stake in shares of Sprout Social during the second quarter worth $61,583,000. Bwcp LP raised its position in shares of Sprout Social by 67.9% during the second quarter. Bwcp LP now owns 488,173 shares of the company’s stock worth $17,418,000 after acquiring an additional 197,424 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Sprout Social during the second quarter worth $368,000. Ensign Peak Advisors Inc raised its position in shares of Sprout Social by 3.9% during the second quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company’s stock worth $712,000 after acquiring an additional 750 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Sprout Social by 75.7% during the second quarter. Sei Investments Co. now owns 157,556 shares of the company’s stock worth $5,622,000 after acquiring an additional 67,866 shares during the last quarter.

Sprout Social Stock Down 4.1 %

SPT stock opened at $28.15 on Tuesday. 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 stock has a market capitalization of $1.59 billion, a P/E ratio of -22.52 and a beta of 0.97. The business has a 50-day moving average of $30.71 and a 200-day moving average of $37.22. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Sprout Social

In related news, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 of the company’s stock, valued at approximately $13,761,747.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the transaction, the director now directly owns 42,122 shares of the company’s stock, valued at approximately $1,231,226.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the transaction, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,582 shares of company stock valued at $1,488,866 over the last three months. Company insiders own 10.97% of the company’s stock.

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.