Charles Schwab Investment Management Inc. Has $10.61 Million Stake in Sprout Social, Inc. $SPT

Charles Schwab Investment Management Inc. raised its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 482,644 shares of the company’s stock after buying an additional 11,910 shares during the period. Charles Schwab Investment Management Inc. owned about 0.84% of Sprout Social worth $10,613,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPT. 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. PNC Financial Services Group Inc. raised its holdings in Sprout Social by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company’s stock worth $206,000 after acquiring an additional 747 shares during the period. Woodline Partners LP bought a new position in Sprout Social in the 4th quarter worth $233,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Sprout Social by 31.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock worth $275,000 after acquiring an additional 2,955 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. The Goldman Sachs Group cut their price objective on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.36.

Insiders Place Their Bets

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value 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. Insiders sold a total of 112,375 shares of company stock worth $2,389,535 over the last quarter. Company insiders own 10.12% of the company’s stock.

Sprout Social Stock Up 2.1%

Shares of SPT opened at $15.19 on Monday. The stock has a market cap of $893.32 million, a price-to-earnings ratio of -15.99 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. Sprout Social, Inc. has a 12 month low of $13.33 and a 12 month high of $36.30. The company has a 50-day moving average price of $18.21 and a two-hundred day moving average price of $21.67.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The firm had revenue of $111.78 million during the quarter, compared to analysts’ expectations of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Equities analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.