Fmr LLC Buys 8,553 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Fmr LLC boosted its stake in Sprout Social, Inc. (NASDAQ:SPT) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,599 shares of the company’s stock after acquiring an additional 8,553 shares during the period. Fmr LLC owned 0.09% of Sprout Social worth $1,413,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SPT. Impax Asset Management Group plc lifted its position in Sprout Social by 46.6% during the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after buying an additional 60,000 shares during the period. Emerald Advisers LLC purchased a new position in Sprout Social during the second quarter valued at $4,345,000. Principal Financial Group Inc. lifted its position in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the period. Emerald Mutual Fund Advisers Trust lifted its position in Sprout Social by 133.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock valued at $4,217,000 after buying an additional 82,879 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Sprout Social by 3.9% during the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock valued at $96,150,000 after buying an additional 100,890 shares during the period.

Insiders Place Their Bets

In other news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. This represents a 72.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total value of $423,474.25. Following the transaction, the chief executive officer now directly owns 546,343 shares in the company, valued at $17,182,487.35. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,765 shares of company stock worth $1,505,079 over the last quarter. Company insiders own 10.97% of the company’s stock.

Wall Street Analysts Forecast Growth

SPT has been the subject of a number of recent analyst reports. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Scotiabank initiated coverage on Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. Barclays decreased their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. Finally, KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.46.

Sprout Social Trading Down 3.1 %

SPT stock opened at $33.93 on Monday. Sprout Social, Inc. has a 1-year low of $25.05 and a 1-year high of $68.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -28.27 and a beta of 1.03. The business has a 50 day simple moving average of $29.65 and a two-hundred day simple moving average of $31.60.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Research analysts anticipate that Sprout Social, Inc. will post -0.98 EPS for the current fiscal year.

Sprout Social Company 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.