Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 27.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,717 shares of the company’s stock after buying an additional 801 shares during the quarter. Assetmark Inc.’s holdings in Sprout Social were worth $108,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Sprout Social by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company’s stock valued at $308,368,000 after purchasing an additional 93,712 shares during the last quarter. Clearbridge Investments LLC raised its stake in Sprout Social by 3.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock valued at $96,150,000 after purchasing an additional 100,890 shares during the last quarter. Dorsey Asset Management LLC acquired a new position in Sprout Social in the 2nd quarter valued at about $61,583,000. Principal Financial Group Inc. grew its holdings in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the period. Finally, Bamco Inc. NY grew its holdings in Sprout Social by 25.8% in the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company’s stock valued at $58,217,000 after buying an additional 200,000 shares during the period.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $28.64 on Monday. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. The stock has a market capitalization of $1.63 billion, a PE ratio of -23.87 and a beta of 0.99. The stock has a 50 day moving average price of $28.10 and a 200 day moving average price of $31.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Analysts predict that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Sprout Social

In other news, President Ryan Paul Barretto sold 13,306 shares of the business’s stock in a transaction that occurred 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 transaction, the president now owns 470,809 shares in the company, valued at $13,761,747.07. The trade was a 2.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s 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 $34,520.63. Following the completion of the transaction, the director now owns 42,122 shares in the company, valued at approximately $1,231,226.06. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. Corporate insiders own 10.97% of the company’s stock.

Wall Street Analyst Weigh In

SPT has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. Piper Sandler decreased their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Robert W. Baird boosted their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.08.

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.