Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Eventide Asset Management LLC

Eventide Asset Management LLC increased its stake in shares of Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,049,943 shares of the company’s stock after purchasing an additional 54,000 shares during the period. Eventide Asset Management LLC owned 1.93% of Sprout Social worth $84,121,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC raised its holdings in Sprout Social by 32.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,091 shares of the company’s stock valued at $87,000 after acquiring an additional 270 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Sprout Social by 1.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 32,178 shares of the company’s stock valued at $2,578,000 after acquiring an additional 331 shares during the last quarter. Select Equity Group L.P. raised its holdings in Sprout Social by 4.2% in the 4th quarter. Select Equity Group L.P. now owns 9,411 shares of the company’s stock valued at $853,000 after acquiring an additional 377 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in Sprout Social in the 4th quarter valued at $36,000. Finally, Penserra Capital Management LLC raised its holdings in Sprout Social by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock valued at $99,000 after acquiring an additional 414 shares during the last quarter. 92.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SPT shares. Canaccord Genuity Group cut their price target on Sprout Social from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Robert W. Baird lowered their price objective on shares of Sprout Social to $76.00 in a research note on Tuesday, August 9th. Piper Sandler lowered their price objective on shares of Sprout Social from $76.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Morgan Stanley lowered 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 note on Thursday, July 14th. Finally, Barclays lowered their price objective on shares of Sprout Social to $66.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Sprout Social Stock Up 2.8 %

Shares of Sprout Social stock opened at $68.15 on Tuesday. The company has a fifty day moving average price of $59.42 and a 200 day moving average price of $60.81. Sprout Social, Inc. has a twelve month low of $38.39 and a twelve month high of $145.42.

Sprout Social (NASDAQ:SPTGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). The firm had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $60.26 million. Sprout Social had a negative net margin of 18.65% and a negative return on equity of 28.60%. Equities research analysts expect that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.90, for a total value of $341,040.00. Following the completion of the transaction, the president now directly owns 347,109 shares of the company’s stock, valued at approximately $21,138,938.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director William Thomas Stanley sold 900 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $65.81, for a total value of $59,229.00. Following the sale, the director now owns 5,842 shares in the company, valued at approximately $384,462.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.90, for a total transaction of $341,040.00. Following the completion of the sale, the president now owns 347,109 shares in the company, valued at approximately $21,138,938.10. The disclosure for this sale can be found here. Insiders sold a total of 62,368 shares of company stock valued at $3,796,579 in the last ninety days. Insiders own 13.33% of the company’s stock.

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

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

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