Quarry LP Buys 751 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Quarry LP increased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 2,346.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 783 shares of the company’s stock after acquiring an additional 751 shares during the period. Quarry LP’s holdings in Sprout Social were worth $28,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SPT. The Manufacturers Life Insurance Company raised its holdings in Sprout Social by 6.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,792 shares of the company’s stock worth $992,000 after acquiring an additional 1,617 shares during the period. Millennium Management LLC increased its stake in shares of Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock worth $11,819,000 after purchasing an additional 327,907 shares during the period. Dorsey Asset Management LLC bought a new position in shares of Sprout Social in the second quarter worth about $61,583,000. Bwcp LP lifted its position in shares of Sprout Social by 67.9% during the 2nd quarter. Bwcp LP now owns 488,173 shares of the company’s stock worth $17,418,000 after purchasing an additional 197,424 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Sprout Social during the 2nd quarter valued at approximately $368,000.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, President Ryan Paul Barretto sold 13,306 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 $388,934.38. Following the completion of the sale, the president now directly owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $31.02, for a total value of $46,530.00. Following the transaction, the chief financial officer now owns 164,124 shares of the company’s stock, valued at $5,091,126.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the sale, the president now owns 470,809 shares of the company’s stock, valued at $13,761,747.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,582 shares of company stock valued at $1,488,866. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Stock Down 4.1 %

NASDAQ SPT opened at $28.15 on Tuesday. The stock’s 50 day simple moving average is $30.71 and its 200 day simple moving average is $37.22. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $68.41. The firm has a market cap of $1.59 billion, a PE ratio of -22.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $99.40 million during the quarter, compared to analyst estimates of $98.70 million. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted ($0.23) earnings per share. As a group, sell-side 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.