Geode Capital Management LLC Has $36.37 Million Stake in Sprout Social, Inc. (NASDAQ:SPT)

Geode Capital Management LLC grew its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,183,916 shares of the company’s stock after purchasing an additional 8,378 shares during the period. Geode Capital Management LLC owned about 2.06% of Sprout Social worth $36,366,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. US Bancorp DE lifted its stake in Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV raised its holdings in shares of Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after buying an additional 1,099 shares in the last quarter. Yarbrough Capital LLC bought a new stake in shares of Sprout Social during the 4th quarter worth $206,000. PNC Financial Services Group Inc. lifted its position in shares of Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock worth $265,000 after buying an additional 2,533 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sprout Social in the fourth quarter valued at about $338,000.

Insider Activity at Sprout Social

In other news, Director Karen Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the transaction, the director now directly owns 25,665 shares of the company’s stock, valued at $498,414.30. This represents a 16.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the sale, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,446 shares of company stock valued at $3,115,839. 10.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group increased their target price on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC reduced their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Trading Down 0.8 %

Shares of Sprout Social stock opened at $19.23 on Wednesday. The company has a market capitalization of $1.11 billion, a P/E ratio of -16.02 and a beta of 1.11. The stock has a fifty day simple moving average of $25.20 and a 200 day simple moving average of $28.83. Sprout Social, Inc. has a 12-month low of $18.72 and a 12-month high of $54.40. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. On average, sell-side analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

About Sprout Social

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.