Baird Financial Group Inc. Grows Position in Sprout Social, Inc. (NASDAQ:SPT)

Baird Financial Group Inc. grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 628.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,187 shares of the company’s stock after buying an additional 21,730 shares during the period. Baird Financial Group Inc.’s holdings in Sprout Social were worth $1,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPT. Oppenheimer Asset Management Inc. lifted its position in Sprout Social by 29.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,574 shares of the company’s stock valued at $382,000 after purchasing an additional 1,483 shares during the last quarter. TownSquare Capital LLC purchased a new position in Sprout Social in the second quarter worth $466,000. Verdence Capital Advisors LLC increased its stake in Sprout Social by 56.8% in the second quarter. Verdence Capital Advisors LLC now owns 4,197 shares of the company’s stock valued at $244,000 after acquiring an additional 1,521 shares during the last quarter. Keybank National Association OH purchased a new stake in Sprout Social during the second quarter valued at about $450,000. Finally, Baillie Gifford & Co. lifted its stake in Sprout Social by 21.2% during the second quarter. Baillie Gifford & Co. now owns 1,011,778 shares of the company’s stock worth $58,754,000 after purchasing an additional 177,022 shares during the last quarter. Institutional investors own 92.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPT. Morgan Stanley reduced their price objective on Sprout Social from $66.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, November 4th. KeyCorp lowered their price objective on shares of Sprout Social from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, November 4th. Robert W. Baird increased their price objective on Sprout Social from $64.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday. Cantor Fitzgerald dropped their target price on shares of Sprout Social from $79.00 to $62.00 in a report on Friday, November 4th. Finally, Piper Sandler reduced 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. One analyst has rated the stock with a hold rating and eight have issued 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 $70.11.

Insider Transactions at Sprout Social

In other Sprout Social news, CTO Aaron Edward Frederick Rankin sold 4,500 shares of the company’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $55.00, for a total value of $247,500.00. Following the transaction, the chief technology officer now owns 31,986 shares of the company’s stock, valued at approximately $1,759,230. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Preto Joseph Del sold 441 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $67.11, for a total transaction of $29,595.51. Following the transaction, the chief financial officer now directly owns 126,294 shares in the company, valued at approximately $8,475,590.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Aaron Edward Frederick Rankin sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $247,500.00. Following the transaction, the chief technology officer now directly owns 31,986 shares of the company’s stock, valued at $1,759,230. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,341 shares of company stock worth $7,445,401. 13.33% of the stock is currently owned by company insiders.

Sprout Social Stock Performance

NASDAQ:SPT opened at $62.30 on Friday. Sprout Social, Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $139.75. The stock’s fifty day moving average is $60.15 and its 200 day moving average is $57.30.

About Sprout Social

(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.

Featured Articles

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)

Receive News & Ratings for Sprout Social Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprout Social and related companies with MarketBeat.com's FREE daily email newsletter.