Handelsbanken Fonder AB Buys 2,600 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Handelsbanken Fonder AB boosted its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,600 shares of the company’s stock after buying an additional 2,600 shares during the period. Handelsbanken Fonder AB’s holdings in Sprout Social were worth $356,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SPT. Peregrine Capital Management LLC boosted its holdings in shares of Sprout Social by 1.9% during the 4th quarter. Peregrine Capital Management LLC now owns 172,702 shares of the company’s stock valued at $5,304,000 after acquiring an additional 3,213 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Sprout Social by 2.1% in the fourth quarter. Rhumbline Advisers now owns 70,202 shares of the company’s stock worth $2,156,000 after purchasing an additional 1,446 shares during the last quarter. Jennison Associates LLC increased its holdings in Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock valued at $66,689,000 after purchasing an additional 7,311 shares during the period. KBC Group NV raised its position in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Sprout Social by 391.7% during the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock worth $1,105,000 after purchasing an additional 28,667 shares during the last quarter.

Sprout Social Stock Up 1.7 %

Shares of NASDAQ SPT opened at $26.96 on Tuesday. The business’s fifty day moving average price is $31.40 and its 200-day moving average price is $30.42. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $64.91. The stock has a market capitalization of $1.55 billion, a PE ratio of -22.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. On average, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley decreased their price target on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reduced their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays dropped their price objective on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.85.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,800 shares of company stock valued at $3,413,532. Company insiders own 10.97% of the company’s stock.

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.