Rhumbline Advisers Buys 1,911 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Rhumbline Advisers raised its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,399 shares of the company’s stock after purchasing an additional 1,911 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Sprout Social worth $2,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its position in shares of Sprout Social by 2,935.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock worth $12,790,000 after acquiring an additional 201,307 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Sprout Social by 77.5% during the fourth quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock worth $5,885,000 after buying an additional 41,834 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Sprout Social by 642.5% during the first quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company’s stock worth $1,304,000 after buying an additional 18,890 shares during the period. Jennison Associates LLC raised its holdings in Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after acquiring an additional 311,146 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Sprout Social by 2.4% during the first quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock worth $154,882,000 after acquiring an additional 61,568 shares in the last quarter.

Sprout Social Price Performance

Sprout Social stock opened at $28.62 on Thursday. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. The company’s 50 day moving average price is $32.67 and its two-hundred day moving average price is $39.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.63 billion, a P/E ratio of -22.90 and a beta of 0.98.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $98.70 million. During the same quarter last year, the firm earned ($0.23) EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities analysts predict that Sprout Social, Inc. will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.66, for a total transaction of $54,990.00. Following the transaction, the chief financial officer now owns 165,624 shares of the company’s stock, valued at approximately $6,071,775.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $36.66, for a total value of $54,990.00. Following the sale, the chief financial officer now owns 165,624 shares of the company’s stock, valued at approximately $6,071,775.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 11,200 shares of Sprout Social stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $36.10, for a total transaction of $404,320.00. Following the completion of the sale, the president now directly owns 186,975 shares in the company, valued at approximately $6,749,797.50. The disclosure for this sale can be found here. Insiders have sold a total of 82,282 shares of company stock valued at $2,670,776 in the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SPT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Thursday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays lowered their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social has a consensus rating of “Hold” and an average target price of $51.31.

Sprout Social Company 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.