Geode Capital Management LLC Has $34.18 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Geode Capital Management LLC grew its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,175,538 shares of the company’s stock after buying an additional 22,320 shares during the quarter. Geode Capital Management LLC owned 2.06% of Sprout Social worth $34,179,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dorsey Asset Management LLC acquired a new position in Sprout Social in the second quarter worth about $61,583,000. Wellington Management Group LLP grew its stake in shares of Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after purchasing an additional 519,406 shares during the period. ArrowMark Colorado Holdings LLC acquired a new position in shares of Sprout Social in the 3rd quarter worth approximately $10,717,000. Allspring Global Investments Holdings LLC lifted its position in shares of Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock worth $23,726,000 after buying an additional 330,309 shares during the period. Finally, Millennium Management LLC boosted its stake in Sprout Social by 9,779.5% in the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock valued at $11,819,000 after buying an additional 327,907 shares in the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on SPT. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research note on Friday, November 8th. Oppenheimer dropped their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Scotiabank began coverage on shares of Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target on the stock. Piper Sandler decreased their price objective 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. Finally, Barclays cut their target price on shares of 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sprout Social presently has an average rating of “Hold” and an average target price of $45.46.

Insider Activity

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the 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 in the company, valued at $209,381.91. This represents a 72.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the transaction, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This trade represents a 12.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,765 shares of company stock valued at $1,676,279 in the last ninety days. 10.97% of the stock is owned by insiders.

Sprout Social Trading Up 1.1 %

SPT stock opened at $32.41 on Thursday. The business has a fifty day moving average of $30.40 and a 200-day moving average of $31.61. 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 company has a market cap of $1.86 billion, a P/E ratio of -27.01 and a beta of 1.03. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) 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 business had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. As a group, equities research analysts expect that Sprout Social, Inc. will post -0.98 EPS for the current year.

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.