Blair William & Co. IL Sells 551,082 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Blair William & Co. IL cut its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 42.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 753,492 shares of the company’s stock after selling 551,082 shares during the period. Blair William & Co. IL owned approximately 1.33% of Sprout Social worth $26,885,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Emerald Advisers LLC purchased a new position in Sprout Social during the 2nd quarter valued at $4,345,000. Public Employees Retirement Association of Colorado boosted its stake 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 valued at $12,790,000 after purchasing an additional 201,307 shares during the period. Stifel Financial Corp boosted its stake 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 valued at $5,885,000 after purchasing an additional 41,834 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of Sprout Social by 642.5% in the first quarter. Picton Mahoney Asset Management now owns 21,830 shares of the company’s stock worth $1,304,000 after purchasing an additional 18,890 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after buying an additional 311,146 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPT. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Thursday, August 22nd. Robert W. Baird boosted their price target on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Barclays decreased their target price 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and an average target price of $51.31.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $28.62 on Thursday. The company has a market capitalization of $1.63 billion, a PE ratio of -22.90 and a beta of 0.98. The company has a 50-day simple moving average of $32.67 and a two-hundred day simple moving average of $39.81. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $98.70 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. Research analysts expect that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at Sprout Social

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $36.66, for a total transaction of $54,990.00. Following the completion of the sale, the chief financial officer now owns 165,624 shares in the company, valued at approximately $6,071,775.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,071,775.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 11,200 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $36.10, for a total transaction of $404,320.00. Following the completion of the transaction, the president now directly owns 186,975 shares of the company’s stock, valued at $6,749,797.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,282 shares of company stock valued at $2,670,776. Corporate insiders own 10.97% of the company’s stock.

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.