Victory Capital Management Inc. Lowers Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Victory Capital Management Inc. reduced its position in Sprout Social, Inc. (NASDAQ:SPT) by 52.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,893 shares of the company’s stock after selling 332,473 shares during the quarter. Victory Capital Management Inc. owned about 0.52% of Sprout Social worth $8,602,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SPT. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 93,712 shares in the last quarter. Clearbridge Investments LLC raised its stake in Sprout Social by 3.9% in the second 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 in the last quarter. Dorsey Asset Management LLC purchased a new stake in Sprout Social in the second quarter valued at approximately $61,583,000. Principal Financial Group Inc. lifted its position in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after purchasing an additional 200,190 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in Sprout Social by 25.8% in the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company’s stock worth $58,217,000 after buying an additional 200,000 shares in the last quarter.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $30.32 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day simple moving average of $28.37 and a two-hundred day simple moving average of $31.31. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -25.27 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. On average, analysts expect that Sprout Social, Inc. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at $4,484,017.78. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now owns 42,122 shares in the company, valued at approximately $1,231,226.06. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,882 shares of company stock worth $1,801,351. Corporate insiders own 10.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SPT shares. Oppenheimer reduced their price objective on Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. Scotiabank started coverage on shares of Sprout Social in a report on Monday. They issued a “sector perform” rating and a $28.00 price objective for the company. Piper Sandler reduced their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Robert W. Baird boosted their price target on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. One research 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. According to data from MarketBeat.com, Sprout Social has a consensus 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.