Allspring Global Investments Holdings LLC Has $19.98 Million Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Allspring Global Investments Holdings LLC increased its position in Sprout Social, Inc. (NASDAQ:SPTFree Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 334,661 shares of the company’s stock after purchasing an additional 7,194 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.59% of Sprout Social worth $19,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its position in Sprout Social by 2,935.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock worth $12,790,000 after purchasing an additional 201,307 shares during the period. Stifel Financial Corp grew its position in shares of Sprout Social by 77.5% during the 4th quarter. Stifel Financial Corp now owns 95,789 shares of the company’s stock worth $5,885,000 after buying an additional 41,834 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Sprout Social by 67.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,031 shares of the company’s stock worth $1,169,000 after buying an additional 7,646 shares during the period. Knights of Columbus Asset Advisors LLC grew its position in shares of Sprout Social by 162.5% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock worth $4,568,000 after buying an additional 46,033 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Sprout Social by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after buying an additional 191,471 shares during the period.

Insider Transactions at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $38,053.76. Following the sale, the director now owns 43,303 shares in the company, valued at approximately $1,391,758.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Ryan Paul Barretto sold 15,586 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $500,934.04. Following the sale, the president now owns 484,115 shares in the company, valued at approximately $15,559,456.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,184 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the sale, the director now owns 43,303 shares in the company, valued at approximately $1,391,758.42. The disclosure for this sale can be found here. Insiders have sold a total of 81,270 shares of company stock worth $3,066,728 in the last 90 days. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Trading Up 0.3 %

NASDAQ SPT opened at $36.23 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -28.98 and a beta of 1.00. The stock’s 50 day moving average price is $33.88 and its two-hundred day moving average price is $50.61. 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.

Sprout Social (NASDAQ:SPTGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million for the quarter, compared to analysts’ expectations of $97.29 million. As a group, analysts anticipate that Sprout Social, Inc. will post -0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPT. The Goldman Sachs Group lowered Sprout Social from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $44.00 in a research report on Friday, May 3rd. Piper Sandler lowered Sprout Social from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Barclays decreased their price objective on Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a research 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. Finally, William Blair reiterated a “market perform” rating on shares of Sprout Social in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social has an average rating of “Moderate Buy” and a consensus target price of $56.57.

View Our Latest Stock Report on Sprout Social

Sprout Social Profile

(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.

See Also

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

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