Nisa Investment Advisors LLC Sells 303 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Nisa Investment Advisors LLC cut its holdings in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 18.6% in the first quarter, HoldingsChannel reports. The firm owned 1,327 shares of the company’s stock after selling 303 shares during the period. Nisa Investment Advisors LLC’s holdings in Sprout Social were worth $106,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in Sprout Social by 6.6% during the 4th quarter. Invesco Ltd. now owns 1,786,931 shares of the company’s stock worth $162,057,000 after acquiring an additional 110,733 shares during the last quarter. State Street Corp lifted its position in Sprout Social by 2.8% during the 4th quarter. State Street Corp now owns 902,267 shares of the company’s stock worth $81,827,000 after acquiring an additional 24,972 shares during the last quarter. Geode Capital Management LLC lifted its position in Sprout Social by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 790,391 shares of the company’s stock worth $71,680,000 after acquiring an additional 21,077 shares during the last quarter. Northern Trust Corp raised its position in shares of Sprout Social by 1.4% during the fourth quarter. Northern Trust Corp now owns 586,332 shares of the company’s stock valued at $53,175,000 after buying an additional 7,843 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Sprout Social during the fourth quarter valued at about $49,603,000. 83.30% of the stock is currently owned by institutional investors.

Sprout Social Trading Up 1.0 %

Shares of Sprout Social stock opened at $52.10 on Friday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -88.30 and a beta of 1.31. Sprout Social, Inc. has a 1-year low of $38.39 and a 1-year high of $145.42. The firm’s 50-day moving average price is $55.10 and its two-hundred day moving average price is $61.71.

Sprout Social (NASDAQ:SPTGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $57.43 million for the quarter, compared to the consensus estimate of $56.25 million. Sprout Social had a negative return on equity of 21.90% and a negative net margin of 15.69%. Sprout Social’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share. As a group, equities research analysts predict that Sprout Social, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on SPT shares. Piper Sandler cut their price objective on shares of Sprout Social from $98.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Morgan Stanley cut their price objective on shares of Sprout Social from $70.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Cantor Fitzgerald cut their price objective on shares of Sprout Social from $99.00 to $80.00 in a research report on Wednesday, May 4th. Finally, Barclays cut their price objective on shares of Sprout Social from $91.00 to $79.00 in a research report on Wednesday, May 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.73.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 427 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.55, for a total transaction of $25,854.85. Following the sale, the chief financial officer now directly owns 130,362 shares of the company’s stock, valued at $7,893,419.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $47.15, for a total value of $943,000.00. Following the completion of the sale, the chief executive officer now owns 255,939 shares of the company’s stock, valued at $12,067,523.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 427 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $60.55, for a total transaction of $25,854.85. Following the completion of the sale, the chief financial officer now directly owns 130,362 shares of the company’s stock, valued at approximately $7,893,419.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,407 shares of company stock valued at $4,328,707. 13.33% of the stock is currently owned by insiders.

Sprout Social Company Profile

(Get Rating)

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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

See Also

Want to see what other hedge funds are holding SPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprout Social, Inc. (NASDAQ:SPTGet Rating).

Institutional Ownership by Quarter for Sprout Social (NASDAQ:SPT)

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