Bwcp LP Acquires 197,424 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Bwcp LP boosted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 67.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 488,173 shares of the company’s stock after acquiring an additional 197,424 shares during the quarter. Sprout Social comprises 4.4% of Bwcp LP’s holdings, making the stock its 10th largest holding. Bwcp LP owned approximately 0.86% of Sprout Social worth $17,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sprout Social by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company’s stock worth $308,368,000 after purchasing an additional 93,712 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Sprout Social by 2.4% during the first quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock valued at $154,882,000 after acquiring an additional 61,568 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Sprout Social by 17.0% in 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 period. Wasatch Advisors LP lifted its holdings in shares of Sprout Social by 2.5% in the 1st quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock worth $105,423,000 after acquiring an additional 43,262 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Sprout Social by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 999,261 shares of the company’s stock worth $35,654,000 after purchasing an additional 118,160 shares during the period.

Sprout Social Price Performance

Shares of SPT opened at $28.55 on Wednesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -22.84 and a beta of 0.98. The firm’s fifty day simple moving average is $32.10 and its 200-day simple moving average is $38.79. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26.

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

Insider Buying and Selling

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the sale, the chief executive officer now owns 398,229 shares in the company, valued at $14,388,013.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The disclosure for this sale can be found here. Insiders sold a total of 82,282 shares of company stock worth $2,670,776 over the last 90 days. 10.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPT shares. Robert W. Baird boosted their target price on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Barclays lowered their target price on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. KeyCorp lowered 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 note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. 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 company’s stock. According to MarketBeat.com, the stock currently 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.