Raymond James Financial Inc. Takes Position in Sprout Social, Inc. (NASDAQ:SPT)

Raymond James Financial Inc. purchased a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,558 shares of the company’s stock, valued at approximately $1,184,000. Raymond James Financial Inc. owned approximately 0.07% of Sprout Social as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPT. JPMorgan Chase & Co. raised its stake in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after purchasing an additional 307,906 shares during the last quarter. Barclays PLC raised its position in Sprout Social by 339.5% in the 3rd quarter. Barclays PLC now owns 90,234 shares of the company’s stock worth $2,623,000 after buying an additional 69,704 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares during the period. Brighton Jones LLC boosted its holdings in shares of Sprout Social by 391.7% during the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock valued at $1,105,000 after acquiring an additional 28,667 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Sprout Social during the 4th quarter valued at about $338,000.

Sprout Social Stock Performance

SPT opened at $21.44 on Friday. The firm has a market cap of $1.24 billion, a P/E ratio of -17.87 and a beta of 1.11. Sprout Social, Inc. has a 1-year low of $18.52 and a 1-year high of $39.75. The company has a 50 day simple moving average of $22.55 and a two-hundred day simple moving average of $28.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results 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 business had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Equities analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPT. Piper Sandler lowered their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on Sprout Social from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reduced their price objective on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Scotiabank dropped their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group reduced their price target on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.15.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock worth $3,115,839 over the last quarter. Insiders own 10.12% of the company’s stock.

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.