Lombard Odier Asset Management USA Corp Invests $368,000 in Sprout Social, Inc. (NASDAQ:SPT)

Lombard Odier Asset Management USA Corp acquired a new position in Sprout Social, Inc. (NASDAQ:SPT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,300 shares of the company’s stock, valued at approximately $368,000.

Several other large investors have also added to or reduced their stakes in SPT. Norges Bank bought a new stake in Sprout Social during the 4th quarter worth about $14,085,000. Assetmark Inc. raised its holdings in Sprout Social by 28.9% during the fourth quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock worth $178,000 after acquiring an additional 650 shares in the last quarter. 1492 Capital Management LLC acquired a new position in Sprout Social during the fourth quarter valued at approximately $1,055,000. Stifel Financial Corp grew its stake in Sprout Social by 77.5% in 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 in the last quarter. Finally, Axiom Investors LLC DE increased its position in shares of Sprout Social by 30.5% during the 4th quarter. Axiom Investors LLC DE now owns 46,158 shares of the company’s stock worth $2,836,000 after purchasing an additional 10,793 shares during the last quarter.

Insider Transactions at Sprout Social

In related news, President Ryan Paul Barretto sold 13,306 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the sale, the president now directly owns 470,809 shares in the company, valued at $13,761,747.07. The sale was disclosed in a filing with the SEC, which is available at this link. In other Sprout Social 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 transaction of $54,990.00. Following the sale, the chief financial officer now directly owns 165,624 shares in the company, valued at $6,071,775.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Ryan Paul Barretto sold 13,306 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the completion of the transaction, the president now owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,282 shares of company stock valued at $2,670,776. 10.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SPT. Barclays cut their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. 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. Robert W. Baird raised their target price on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, KeyCorp downgraded 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Sprout Social presently has an average rating of “Hold” and a consensus price target of $51.31.

Sprout Social Stock Performance

SPT opened at $28.38 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day simple moving average of $32.42 and a 200 day simple moving average of $39.35. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. The company has a market capitalization of $1.60 billion, a PE ratio of -22.70 and a beta of 0.98.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating 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 business had revenue of $99.40 million for the quarter, compared to the consensus estimate of $98.70 million. During the same period in the prior year, the company posted ($0.23) earnings per share. Sprout Social’s 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 year.

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.