Zacks Investment Management Reduces Position in Sprout Social, Inc. (NASDAQ:SPT)

Zacks Investment Management trimmed its stake in Sprout Social, Inc. (NASDAQ:SPT) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,313 shares of the company’s stock after selling 7,608 shares during the period. Zacks Investment Management’s holdings in Sprout Social were worth $2,006,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Sprout Social by 324.0% in 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. Geode Capital Management LLC boosted its stake in Sprout Social by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock valued at $34,179,000 after buying an additional 22,320 shares during the last quarter. Barclays PLC grew its holdings in Sprout Social by 339.5% during the 3rd quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after buying an additional 69,704 shares in the last quarter. Principal Financial Group Inc. increased its stake in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of 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 acquiring an additional 28,667 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at $241,720.03. This trade represents a 84.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock worth $3,115,839 over the last three months. Insiders own 10.97% of the company’s stock.

Sprout Social Trading Up 1.4 %

SPT opened at $19.64 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -16.37 and a beta of 1.11. The company’s 50 day simple moving average is $24.42 and its two-hundred day simple moving average is $28.64. Sprout Social, Inc. has a 1-year low of $18.72 and a 1-year high of $53.96. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. Analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPT has been the topic of a number of recent research reports. Piper Sandler decreased their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped 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. Stifel Nicolaus decreased their price objective on Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Scotiabank dropped their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price target on Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.77.

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.