Oppenheimer Asset Management Inc. Cuts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Oppenheimer Asset Management Inc. decreased its position in Sprout Social, Inc. (NASDAQ:SPT) by 23.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,599 shares of the company’s stock after selling 2,302 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sprout Social were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of Sprout Social in the 1st quarter valued at about $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 acquiring an additional 709 shares during the period. Quarry LP lifted its stake in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after acquiring an additional 751 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Sprout Social in the 1st quarter valued at about $61,000. Finally, Lazard Asset Management LLC boosted its stake in Sprout Social by 49.0% in the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock valued at $111,000 after acquiring an additional 613 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total transaction of $44,715.00. Following the transaction, the chief financial officer now owns 162,624 shares in the company, valued at $4,847,821.44. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. This represents a 72.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock valued at $1,801,351 in the last ninety days. Company insiders own 10.97% of the company’s stock.

Sprout Social Trading Up 1.9 %

NASDAQ:SPT opened at $29.63 on Thursday. The firm has a market capitalization of $1.70 billion, a P/E ratio of -24.69 and a beta of 0.99. The business has a 50 day simple moving average of $28.30 and a 200 day simple moving average of $31.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $102.64 million for 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%. Equities research analysts predict that Sprout Social, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Robert W. Baird boosted 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. Scotiabank started coverage on Sprout Social in a research report on Monday. They issued a “sector perform” rating and a $28.00 target price on the stock. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Thursday, August 22nd. Finally, Barclays lowered their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.62.

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.