Rhumbline Advisers Buys 6,774 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Rhumbline Advisers increased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,976 shares of the company’s stock after acquiring an additional 6,774 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Sprout Social worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Sprout Social during the fourth quarter worth about $338,000. Brighton Jones LLC raised its position in 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 purchasing an additional 28,667 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Sprout Social in the 4th quarter worth approximately $1,184,000. Barclays PLC grew its position in shares of Sprout Social by 8.9% in the 4th quarter. Barclays PLC now owns 98,284 shares of the company’s stock worth $3,018,000 after buying an additional 8,050 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Sprout Social by 84.5% in the 4th quarter. Deutsche Bank AG now owns 51,367 shares of the company’s stock worth $1,577,000 after buying an additional 23,525 shares during the last quarter.

Sprout Social Price Performance

Shares of SPT opened at $20.55 on Wednesday. Sprout Social, Inc. has a twelve month low of $18.52 and a twelve month high of $39.75. The company has a market capitalization of $1.20 billion, a P/E ratio of -19.76 and a beta of 1.04. The firm has a 50 day moving average of $21.36 and a 200 day moving average of $26.55. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. Sprout Social had a negative return on equity of 31.03% and a negative net margin of 14.25%. The firm had revenue of $109.29 million during the quarter, compared to analysts’ expectations of $107.63 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the sale, the chief executive officer now owns 136,575 shares of the company’s stock, valued at approximately $2,717,842.50. The trade was a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at $148,265.83. This represents a 84.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,375 shares of company stock worth $3,157,417. Insiders own 10.12% of the company’s stock.

Analyst Ratings Changes

SPT has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. Morgan Stanley reduced their price target on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler lowered their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Scotiabank dropped their target price on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.00.

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.