Bank of America Corp DE Decreases Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Bank of America Corp DE decreased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 413,071 shares of the company’s stock after selling 125,877 shares during the quarter. Bank of America Corp DE owned about 0.72% of Sprout Social worth $12,685,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased 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 acquiring an additional 1,627 shares during the last quarter. KBC Group NV lifted its holdings in 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 during the last quarter. PNC Financial Services Group Inc. lifted its holdings in 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. KLP Kapitalforvaltning AS purchased a new stake in Sprout Social during the 4th quarter worth about $338,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Sprout Social by 28.9% in the 4th quarter. Handelsbanken Fonder AB now owns 11,600 shares of the company’s stock valued at $356,000 after purchasing an additional 2,600 shares during the last quarter.

Sprout Social Trading Up 0.6%

Shares of SPT opened at $21.69 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.26 billion, a P/E ratio of -18.07 and a beta of 1.20. The stock’s fifty day simple moving average is $21.81 and its 200 day simple moving average is $27.62. Sprout Social, Inc. has a twelve month low of $18.52 and a twelve month high of $39.75.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $109.29 million for the quarter, compared to analyst estimates of $107.63 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.99, for a total transaction of $799,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares in the company, valued at $148,265.83. This trade represents a 84.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the completion of the transaction, the director now owns 25,665 shares of the company’s stock, valued at $498,414.30. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock valued at $2,644,639 over the last three months. 10.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC lowered 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. Barclays reduced their target price on 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, Scotiabank reduced their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One equities 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’s stock. Based on data from MarketBeat, Sprout Social has an average rating of “Hold” and a consensus price target of $31.69.

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.