Teachers Retirement System of The State of Kentucky Has $2.86 Million Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Teachers Retirement System of The State of Kentucky boosted its position in Sprout Social, Inc. (NASDAQ:SPT) by 3.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 98,204 shares of the company’s stock after purchasing an additional 3,344 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.17% of Sprout Social worth $2,855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock valued at $23,726,000 after purchasing an additional 330,309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sprout Social by 28.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,463 shares of the company’s stock worth $445,000 after buying an additional 2,729 shares during the last quarter. LB Partners LLC bought a new stake in shares of Sprout Social during the 2nd quarter worth about $714,000. Principal Financial Group Inc. grew its stake in Sprout Social by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 999,261 shares of the company’s stock valued at $35,654,000 after buying an additional 118,160 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its stake in Sprout Social by 11.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 169,049 shares of the company’s stock valued at $6,032,000 after buying an additional 17,136 shares during the last quarter.

Sprout Social Trading Down 3.1 %

SPT opened at $33.93 on Friday. 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 twelve month low of $25.05 and a twelve month high of $68.41. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -28.28 and a beta of 1.03. The company has a 50-day simple moving average of $29.65 and a 200 day simple moving average of $31.61.

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

Insider Buying and Selling at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares of the company’s stock, valued at $4,484,017.78. This represents a 0.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now directly owns 7,417 shares in the company, valued at approximately $209,381.91. The trade was a 72.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,765 shares of company stock valued at $1,505,079. 10.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SPT shares. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Oppenheimer dropped their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Scotiabank began coverage on Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Piper Sandler lowered their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and an average target price of $45.46.

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.