Teacher Retirement System of Texas Makes New Investment in Sprout Social, Inc. (NASDAQ:SPT)

Teacher Retirement System of Texas acquired a new position in Sprout Social, Inc. (NASDAQ:SPT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,505 shares of the company’s stock, valued at approximately $363,000.

A number of other large investors have also modified their holdings of the company. Stifel Financial Corp grew its position in shares of Sprout Social by 0.4% in the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after purchasing an additional 351 shares during the period. Invesco Ltd. boosted its holdings in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after purchasing an additional 397 shares during the last quarter. Sei Investments Co. boosted its holdings in Sprout Social by 3.0% in the 4th quarter. Sei Investments Co. now owns 35,893 shares of the company’s stock valued at $1,102,000 after purchasing an additional 1,038 shares during the last quarter. Swiss National Bank boosted its holdings in Sprout Social by 1.3% in the 4th quarter. Swiss National Bank now owns 99,141 shares of the company’s stock valued at $3,045,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock valued at $32,000 after purchasing an additional 1,359 shares during the last quarter.

Insider Transactions at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the completion of the sale, the chief executive officer owned 119,775 shares in the company, valued at $2,534,439. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $19.05, for a total transaction of $95,250.00. Following the transaction, the director owned 28,963 shares of the company’s stock, valued at $551,745.15. This represents a 14.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,375 shares of company stock worth $3,221,935 over the last ninety days. 10.12% of the stock is currently owned by corporate insiders.

Sprout Social Stock Up 0.1%

Shares of Sprout Social stock opened at $18.96 on Friday. The company has a market cap of $1.10 billion, a P/E ratio of -18.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. Sprout Social, Inc. has a one year low of $18.32 and a one year high of $39.75. The firm has a fifty day moving average of $21.17 and a two-hundred day moving average of $24.59.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Sprout Social from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Sprout Social in a research note on Wednesday, May 28th. Morgan Stanley reduced their price target on shares of 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $24.00 price target on shares of Sprout Social in a research note on Tuesday, June 3rd. Finally, Barclays reduced 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.00.

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.