Raymond James Financial Inc. Acquires New Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Raymond James Financial Inc. bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 38,558 shares of the company’s stock, valued at approximately $1,184,000. Raymond James Financial Inc. owned approximately 0.07% of Sprout Social at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after purchasing an additional 307,906 shares in the last quarter. M&T Bank Corp purchased a new position in Sprout Social during the third quarter worth $1,074,000. Zacks Investment Management acquired a new position in shares of Sprout Social in the third quarter worth $2,120,000. Geode Capital Management LLC raised its holdings in shares of Sprout Social by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock worth $34,179,000 after acquiring an additional 22,320 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Sprout Social by 339.5% during the third quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after acquiring an additional 69,704 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPT has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Scotiabank reduced their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC lowered their price objective on Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.85.

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the completion of the transaction, the director now directly owns 30,665 shares of the company’s stock, valued at $927,922.90. This represents a 14.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the sale, the director now owns 42,122 shares of the company’s stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,646 shares of company stock worth $3,302,919. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Trading Up 2.5 %

NASDAQ SPT opened at $22.54 on Thursday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -18.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a one year low of $21.51 and a one year high of $59.04. The company’s 50 day moving average price is $28.14 and its 200 day moving average price is $29.50.

Sprout Social (NASDAQ:SPT) last posted its earnings results 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 business had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. On average, sell-side analysts predict that Sprout Social, Inc. will post -0.99 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.