Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,411 shares of the company’s stock after acquiring an additional 8,028 shares during the period. Charles Schwab Investment Management Inc. owned about 0.72% of Sprout Social worth $11,931,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its position in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the period. Emerald Advisers LLC acquired a new stake in Sprout Social in the second quarter worth $4,345,000. Principal Financial Group Inc. increased its position in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after buying an additional 200,190 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in Sprout Social by 133.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after buying an additional 82,879 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Sprout Social by 3.9% during the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock valued at $96,150,000 after acquiring an additional 100,890 shares during the period.

Insider Transactions at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the transaction, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at $4,807,443.75. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $209,381.91. This represents a 72.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,765 shares of company stock valued at $1,505,079 in the last three months. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $32.43 on Monday. The stock has a market cap of $1.86 billion, a PE ratio of -27.02 and a beta of 1.03. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $29.12 and a 200-day simple moving average of $31.55.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. On average, sell-side analysts anticipate that Sprout Social, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Barclays reduced their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Oppenheimer lowered their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Scotiabank began coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Finally, Piper Sandler lowered their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average price target of $45.46.

About Sprout Social

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.