Blair William & Co. IL Cuts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Blair William & Co. IL trimmed its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 36.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,483 shares of the company’s stock after selling 149,038 shares during the quarter. Blair William & Co. IL’s holdings in Sprout Social were worth $8,122,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Sprout Social by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after acquiring an additional 141,141 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Sprout Social during the 4th quarter worth $338,000. Sei Investments Co. increased its holdings in Sprout Social by 3.0% during the 4th quarter. Sei Investments Co. now owns 35,893 shares of the company’s stock worth $1,102,000 after purchasing an additional 1,038 shares during the period. Natixis Advisors LLC acquired a new stake in Sprout Social in the 4th quarter valued at about $450,000. Finally, Ironwood Investment Management LLC purchased a new position in shares of Sprout Social in the 4th quarter valued at about $656,000.

Insider Transactions at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 directly owns 153,375 shares of the company’s stock, valued at $4,753,091.25. This represents a 9.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on 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 owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,446 shares of company stock worth $3,823,551. Company insiders own 10.97% of the company’s stock.

Analysts Set New Price Targets

SPT has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective 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. Piper Sandler decreased their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley dropped their target price 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, Oppenheimer decreased 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.85.

Sprout Social Trading Down 4.2 %

SPT opened at $22.52 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 52 week low of $22.12 and a 52 week high of $59.85. The business’s 50 day moving average is $28.78 and its two-hundred day moving average is $29.59. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -18.77 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last announced its 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). The business had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, research analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

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.