15,413 Shares in Sprout Social, Inc. (NASDAQ:SPT) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Sprout Social, Inc. (NASDAQ:SPT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,413 shares of the company’s stock, valued at approximately $448,000.

Other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Sprout Social by 17.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company’s stock worth $6,372,000 after acquiring an additional 31,846 shares during the last quarter. Jennison Associates LLC increased its position in Sprout Social by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 2,164,256 shares of the company’s stock valued at $62,915,000 after buying an additional 21,186 shares in the last quarter. Quest Partners LLC grew its position in Sprout Social by 61,042.9% in the 3rd quarter. Quest Partners LLC now owns 47,080 shares of the company’s stock valued at $1,369,000 after purchasing an additional 47,003 shares during the period. Impax Asset Management Group plc increased its position in shares of Sprout Social by 46.6% during the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Sprout Social in the third quarter valued at approximately $265,000.

Wall Street Analyst Weigh In

SPT has been the topic of a number of research analyst reports. Scotiabank started coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target on the stock. Barclays reduced their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Oppenheimer cut their target price on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.62.

Insider Activity at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the transaction, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at approximately $4,807,443.75. This trade represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the sale, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,787 shares of company stock worth $1,505,060 over the last ninety days. Company insiders own 10.97% of the company’s stock.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $31.45 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -26.05 and a beta of 0.99. The stock’s fifty day simple moving average is $28.82 and its 200 day simple moving average is $31.52.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, sell-side analysts forecast that Sprout Social, Inc. will post -0.98 earnings per share for the current fiscal year.

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.