Azzad Asset Management Inc. ADV Trims Stake in Sprout Social, Inc. (NASDAQ:SPT)

Azzad Asset Management Inc. ADV reduced its stake in Sprout Social, Inc. (NASDAQ:SPT) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,797 shares of the company’s stock after selling 367 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Sprout Social were worth $466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI grew its stake in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the period. RiverPark Advisors LLC increased its holdings in Sprout Social by 67.8% in the 4th quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock valued at $77,000 after acquiring an additional 504 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Sprout Social by 169.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,434 shares of the company’s stock valued at $150,000 after purchasing an additional 1,530 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after buying an additional 323 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Sprout Social by 28.9% during the fourth quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after purchasing an additional 650 shares in the last quarter.

Sprout Social Stock Down 0.5 %

Shares of NASDAQ:SPT traded down $0.18 during trading on Wednesday, reaching $36.19. The stock had a trading volume of 183,627 shares, compared to its average volume of 897,012. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.05 billion, a P/E ratio of -29.10 and a beta of 1.00. The firm’s 50-day simple moving average is $34.81 and its 200 day simple moving average is $51.11. Sprout Social, Inc. has a one year low of $25.68 and a one year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. The company had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. As a group, research analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insider Activity at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now directly owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares of the company’s stock, valued at $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the transaction, the president now owns 198,175 shares in the company, valued at approximately $11,286,066.25. The disclosure for this sale can be found here. Insiders sold 108,870 shares of company stock valued at $4,638,548 in the last three months. 10.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. William Blair restated a “market perform” rating on shares of Sprout Social in a report on Friday, May 3rd. Piper Sandler downgraded Sprout Social from an “overweight” rating to a “neutral” rating and cut their target price for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Barclays dropped their price objective on Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, Cantor Fitzgerald reduced their target price on Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.57.

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.