Sprout Social, Inc. (NASDAQ:SPT) Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,976 shares of the company’s stock after purchasing an additional 1,703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sprout Social were worth $373,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SPT. Versant Capital Management Inc lifted its stake in Sprout Social by 1,319.4% in the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock valued at $32,000 after acquiring an additional 1,359 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sprout Social by 19,500.0% in the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock valued at $198,000 after acquiring an additional 8,970 shares during the last quarter. Woodline Partners LP acquired a new stake in Sprout Social in the fourth quarter valued at approximately $233,000. Harbor Capital Advisors Inc. lifted its stake in Sprout Social by 31.0% in the first quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock valued at $275,000 after acquiring an additional 2,955 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Sprout Social during the 4th quarter valued at about $304,000.

Insider Buying and Selling

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $355,488.00. Following the completion of the transaction, the chief executive officer owned 119,775 shares in the company, valued at $2,534,439. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider directly owned 7,417 shares of the company’s stock, valued at $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,375 shares of company stock worth $2,389,535 in the last 90 days. 10.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPT. The Goldman Sachs Group lowered their price objective on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Canaccord Genuity Group lowered their price objective on Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. Barclays lowered their price objective on Sprout Social from $34.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Morgan Stanley lowered their target price on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.42.

Sprout Social Price Performance

Shares of SPT stock opened at $13.94 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $811.03 million, a P/E ratio of -14.67 and a beta of 0.99. Sprout Social, Inc. has a 12 month low of $13.75 and a 12 month high of $36.30. The stock has a 50 day moving average of $19.66 and a two-hundred day moving average of $23.13.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $111.78 million during the quarter, compared to the consensus estimate of $110.93 million. Sprout Social had a negative return on equity of 26.65% and a negative net margin of 12.70%. Sprout Social’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. As a group, equities analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current year.

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.