Envestnet Asset Management Inc. Trims Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Envestnet Asset Management Inc. lessened its stake in Sprout Social, Inc. (NASDAQ:SPT) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,894 shares of the company’s stock after selling 2,229 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Sprout Social worth $979,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SPT. Norges Bank purchased a new stake in Sprout Social during the 4th quarter worth $13,422,000. JPMorgan Chase & Co. grew its stake in Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after buying an additional 307,906 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 last quarter. Vanguard Group Inc. lifted its holdings in Sprout Social by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after purchasing an additional 141,141 shares during the period. Finally, Barclays PLC grew its position in Sprout Social by 339.5% in the 3rd quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after buying an additional 69,704 shares in the last quarter.

Sprout Social Stock Up 0.7 %

SPT opened at $21.05 on Friday. The business has a 50 day moving average of $22.66 and a 200-day moving average of $28.14. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.54 and a beta of 1.11. 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, Inc. has a 1-year low of $18.52 and a 1-year high of $51.08.

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

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the stock in a transaction dated 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 sale, the director now owns 25,665 shares in the company, valued at $498,414.30. This trade represents a 16.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $3,115,839 over the last quarter. Corporate insiders own 10.12% of the company’s stock.

Wall Street Analyst Weigh In

SPT has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Stifel Nicolaus cut their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays dropped their price target on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.15.

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.