Swiss National Bank Purchases 16,800 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Swiss National Bank grew its position in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,341 shares of the company’s stock after purchasing an additional 16,800 shares during the quarter. Swiss National Bank owned approximately 0.20% of Sprout Social worth $6,291,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Sprout Social by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,683,975 shares of the company’s stock valued at $295,160,000 after purchasing an additional 93,793 shares during the period. Invesco Ltd. increased its position in Sprout Social by 2.3% during the first quarter. Invesco Ltd. now owns 1,827,992 shares of the company’s stock worth $146,459,000 after acquiring an additional 41,061 shares during the period. Jennison Associates LLC increased its position in Sprout Social by 95.3% during the second quarter. Jennison Associates LLC now owns 1,063,868 shares of the company’s stock worth $61,779,000 after acquiring an additional 519,059 shares during the period. Eventide Asset Management LLC increased its position in Sprout Social by 5.4% during the first quarter. Eventide Asset Management LLC now owns 1,049,943 shares of the company’s stock worth $84,121,000 after acquiring an additional 54,000 shares during the period. Finally, Baillie Gifford & Co. increased its position 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 acquiring an additional 177,022 shares during the period. Institutional investors own 92.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPT. Cantor Fitzgerald dropped their target price on shares of Sprout Social from $79.00 to $62.00 in a research report on Friday, November 4th. Piper Sandler dropped their target price on shares of Sprout Social from $76.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Barclays dropped their target price on shares of Sprout Social from $70.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. Morgan Stanley dropped their target price on shares of 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. Finally, Robert W. Baird boosted their target price on shares of Sprout Social from $64.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.11.

Sprout Social Price Performance

SPT opened at $60.48 on Thursday. Sprout Social, Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $117.07. The firm’s fifty day moving average price is $59.84 and its two-hundred day moving average price is $57.35. The company has a market capitalization of $3.32 billion, a P/E ratio of -68.73 and a beta of 0.90.

Insiders Place Their Bets

In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $62.31, for a total value of $348,936.00. Following the sale, the president now owns 298,975 shares in the company, valued at approximately $18,629,132.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $62.31, for a total value of $348,936.00. Following the sale, the president now owns 298,975 shares in the company, valued at approximately $18,629,132.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Walker sold 8,500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $59.11, for a total transaction of $502,435.00. Following the completion of the sale, the director now owns 55,558 shares in the company, valued at approximately $3,284,033.38. The disclosure for this sale can be found here. Insiders have sold 123,341 shares of company stock worth $7,445,401 over the last 90 days. Corporate insiders own 13.33% of the company’s stock.

Sprout Social Profile

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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.

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

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