Harbor Capital Advisors Inc. decreased its stake in Sprout Social, Inc. (NASDAQ:SPT – Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,544 shares of the company’s stock after selling 1,434 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Sprout Social were worth $293,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of Sprout Social by 8.1% during the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock worth $523,000 after purchasing an additional 1,274 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Sprout Social by 3.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company’s stock worth $2,855,000 after acquiring an additional 3,344 shares during the period.
Sprout Social Stock Up 1.1 %
Shares of SPT opened at $30.72 on Wednesday. The company’s 50-day simple moving average is $31.47 and its 200-day simple moving average is $31.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. The stock has a market capitalization of $1.76 billion, a PE ratio of -25.60 and a beta of 1.03.
Insider Activity at Sprout Social
In related news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the transaction, the chief executive officer now owns 153,375 shares of the company’s stock, valued at $4,753,091.25. This represents a 9.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,265 shares of company stock worth $1,266,606. Company insiders own 10.97% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Oppenheimer cut their price objective 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. Morgan Stanley raised their price target on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday. Barclays decreased their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Scotiabank initiated coverage on Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.54.
Read Our Latest Stock Analysis on SPT
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.
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