Rhumbline Advisers Boosts Stake in Sprout Social, Inc. (NASDAQ:SPT)

Rhumbline Advisers lifted its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 70,202 shares of the company’s stock after acquiring an additional 1,446 shares during the quarter. Rhumbline Advisers owned 0.12% of Sprout Social worth $2,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust lifted its stake in Sprout Social by 133.3% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after acquiring an additional 82,879 shares during the period. Impax Asset Management Group plc raised its holdings in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after buying an additional 60,000 shares during the period. Principal Financial Group Inc. grew its stake in shares of Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the last quarter. Assetmark Inc. increased its position in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after acquiring an additional 801 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Sprout Social in the 3rd quarter valued at about $393,000.

Sprout Social Stock Up 1.7 %

Shares of NASDAQ:SPT opened at $26.96 on Tuesday. The firm has a market cap of $1.55 billion, a P/E ratio of -22.47 and a beta of 1.06. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $64.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $31.40 and a 200 day simple moving average of $30.42.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SPT. Scotiabank decreased their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group lowered their price objective on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group increased their price target on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley dropped their price objective on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their target price on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.85.

Insider Buying and Selling

In other news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now owns 30,665 shares of the company’s stock, valued at $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,800 shares of company stock valued at $3,413,532 over the last three months. 10.97% of the stock is owned by company insiders.

Sprout Social 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.