Stifel Financial Corp Purchases 41,834 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Stifel Financial Corp grew its position in shares of Sprout Social, Inc. (NASDAQ:SPTFree Report) by 77.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,789 shares of the company’s stock after purchasing an additional 41,834 shares during the quarter. Stifel Financial Corp owned approximately 0.17% of Sprout Social worth $5,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPT. 1492 Capital Management LLC acquired a new stake in Sprout Social in the fourth quarter valued at $1,055,000. Assetmark Inc. increased its stake in shares of Sprout Social by 28.9% in the fourth quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after buying an additional 650 shares during the period. Clearbridge Investments LLC raised its position in shares of Sprout Social by 6.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after acquiring an additional 153,642 shares during the last quarter. Norges Bank acquired a new position in shares of Sprout Social in the fourth quarter worth approximately $14,085,000. Finally, Level Four Advisory Services LLC bought a new stake in Sprout Social in the fourth quarter valued at approximately $626,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPT. Robert W. Baird downgraded shares of Sprout Social from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $45.00 in a research report on Friday, May 3rd. Barclays decreased their price target on Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. BTIG Research lowered Sprout Social from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Cantor Fitzgerald lowered their target price on Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, William Blair reiterated a “market perform” rating on shares of Sprout Social in a report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Get Our Latest Research Report on SPT

Sprout Social Trading Down 2.0 %

Shares of NASDAQ SPT opened at $33.74 on Friday. The firm’s 50 day moving average price is $41.89 and its 200-day moving average price is $53.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. Sprout Social, Inc. has a 52-week low of $25.68 and a 52-week high of $68.41. The company has a market cap of $1.91 billion, a PE ratio of -26.99 and a beta of 0.99.

Sprout Social (NASDAQ:SPTGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.10. The company had revenue of $96.78 million for the quarter, compared to the consensus estimate of $97.29 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. On average, equities research analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total value of $1,252,900.00. Following the completion of the sale, the director now directly owns 44,487 shares in the company, valued at approximately $2,533,534.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the transaction, the director now owns 44,487 shares in the company, valued at $2,533,534.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at $13,559,697.45. The disclosure for this sale can be found here. Insiders sold a total of 108,870 shares of company stock worth $4,673,003 over the last three months. 10.97% of the stock is owned by insiders.

About Sprout Social

(Free Report)

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.

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

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