Edgestream Partners L.P. Invests $969,000 in Sprout Social, Inc. (NASDAQ:SPT)

Edgestream Partners L.P. bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,168 shares of the company’s stock, valued at approximately $969,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPT. Emerald Advisers LLC acquired a new position in shares of Sprout Social in the second quarter valued at $4,345,000. 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 raised its holdings in Sprout Social by 77.5% during the 4th quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock worth $5,885,000 after purchasing an additional 41,834 shares during the last quarter. Picton Mahoney Asset Management raised its stake 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 last quarter. Finally, Jennison Associates LLC raised its position in shares of Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after acquiring an additional 311,146 shares during the last quarter.

Sprout Social Stock Performance

NASDAQ SPT opened at $28.38 on Friday. 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 company has a market capitalization of $1.60 billion, a P/E ratio of -22.70 and a beta of 0.98. The firm has a 50-day moving average price of $32.42 and a two-hundred day moving average price of $39.49. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41.

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

Insider Activity

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $36.66, for a total value of $54,990.00. Following the completion of the transaction, the chief financial officer now owns 165,624 shares of the company’s stock, valued at $6,071,775.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $36.66, for a total value of $54,990.00. Following the completion of the transaction, the chief financial officer now directly owns 165,624 shares in the company, valued at $6,071,775.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the sale, the director now owns 42,122 shares in the company, valued at $1,231,226.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,282 shares of company stock worth $2,670,776. Insiders own 10.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays dropped their target price on Sprout Social from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Thursday, August 22nd. 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, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.31.

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.