Envestnet Asset Management Inc. Sells 8,191 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Envestnet Asset Management Inc. lowered its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 25.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,703 shares of the company’s stock after selling 8,191 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sprout Social were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of Sprout Social by 1,319.4% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock valued at $198,000 after purchasing an additional 8,970 shares in the last quarter. Woodline Partners LP acquired a new position in Sprout Social in the 4th quarter valued at $233,000. Harbor Capital Advisors Inc. grew its stake in Sprout Social by 31.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock valued at $275,000 after buying an additional 2,955 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Sprout Social in the 4th quarter valued at $304,000.

Sprout Social Stock Performance

NASDAQ SPT opened at $16.23 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $944.26 million, a price-to-earnings ratio of -15.61 and a beta of 0.99. The company’s fifty day moving average is $20.06 and its two-hundred day moving average is $23.44. Sprout Social, Inc. has a 52-week low of $16.18 and a 52-week high of $36.30.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. 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 business posted $0.10 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Activity

In other news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the sale, the chief executive officer directly owned 119,775 shares in the company, valued at approximately $2,534,439. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total transaction of $844,800.00. Following the sale, the insider owned 7,417 shares in the company, valued at approximately $156,647.04. This trade represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,375 shares of company stock worth $2,389,535. Corporate insiders own 10.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPT shares. Barclays lowered their target price 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. Morgan Stanley lowered their target price 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. The Goldman Sachs Group lowered their target price 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $24.00 target price on shares of Sprout Social in a research note on Tuesday, June 3rd. Finally, Oppenheimer lowered their target price on shares of Sprout Social from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.17.

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.