11,000 Shares in Sprout Social, Inc. (NASDAQ:SPT) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Sprout Social, Inc. (NASDAQ:SPT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,000 shares of the company’s stock, valued at approximately $338,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SPT. Wellington Management Group LLP raised its stake in Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the last quarter. Jennison Associates LLC grew its holdings in Sprout Social by 0.3% during the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock worth $66,689,000 after acquiring an additional 7,311 shares during the period. State Street Corp raised its position in shares of Sprout Social by 0.5% in the 3rd quarter. State Street Corp now owns 1,227,099 shares of the company’s stock worth $35,672,000 after acquiring an additional 5,557 shares in the last quarter. Principal Financial Group Inc. raised its position 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Sprout Social by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock valued at $34,179,000 after purchasing an additional 22,320 shares during the period.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the sale, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,646 shares of company stock valued at $3,302,919 in the last quarter. 10.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SPT. Stifel Nicolaus dropped their price target on Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays dropped their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC lowered their target price on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.85.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $20.22 on Friday. 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 capitalization of $1.17 billion, a PE ratio of -16.85 and a beta of 1.11. The stock’s 50 day moving average price is $27.62 and its 200-day moving average price is $29.39. Sprout Social, Inc. has a twelve month low of $19.21 and a twelve month high of $59.04.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. On average, equities analysts anticipate that Sprout Social, Inc. will post -0.99 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.