Raymond James & Associates Reduces Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Raymond James & Associates decreased its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 15.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,050 shares of the company’s stock after selling 7,317 shares during the period. Raymond James & Associates’ holdings in Sprout Social were worth $2,461,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Sprout Social during the first quarter worth about $32,000. State of Wyoming purchased a new stake in shares of Sprout Social during the second quarter worth about $29,000. Quarry LP purchased a new stake in Sprout Social in the first quarter valued at approximately $40,000. RiverPark Advisors LLC purchased a new stake in Sprout Social in the third quarter valued at approximately $37,000. Finally, Captrust Financial Advisors boosted its position in Sprout Social by 941.1% in the second quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock valued at $44,000 after buying an additional 687 shares during the last quarter.

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the transaction, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at $22,983,066.72. The disclosure for this sale can be found here. Insiders sold a total of 140,200 shares of company stock valued at $8,171,958 in the last three months. 11.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPT shares. Jefferies Financial Group started coverage on Sprout Social in a research report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 target price on shares of Sprout Social in a research report on Wednesday, February 21st. Piper Sandler upped their target price on Sprout Social from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Barclays dropped their target price on Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $74.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.54.

Sprout Social Trading Down 2.1 %

Shares of SPT stock opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -45.92 and a beta of 1.05. The stock has a 50 day simple moving average of $59.86 and a 200-day simple moving average of $56.77. Sprout Social, Inc. has a 1-year low of $37.00 and a 1-year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. On average, equities research analysts expect that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Sprout Social 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.