Invesco Ltd. Has $739,000 Stake in Sprout Social, Inc. $SPT

Invesco Ltd. raised its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 47.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 33,622 shares of the company’s stock after purchasing an additional 10,761 shares during the period. Invesco Ltd. owned approximately 0.06% of Sprout Social worth $739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sprout Social by 11.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company’s stock worth $373,000 after buying an additional 1,703 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Sprout Social by 391.7% in the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock worth $1,105,000 after purchasing an additional 28,667 shares during the period. Rhumbline Advisers increased its stake in Sprout Social by 9.6% in the first quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $1,693,000 after acquiring an additional 6,774 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Sprout Social in the first quarter valued at $363,000. Finally, Deutsche Bank AG grew its stake in shares of Sprout Social by 84.5% during the fourth quarter. Deutsche Bank AG now owns 51,367 shares of the company’s stock valued at $1,577,000 after buying an additional 23,525 shares during the last quarter.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the company’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 completion of the transaction, the insider owned 7,417 shares in the company, valued at approximately $156,647.04. This represents a 84.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction on 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 directly owned 28,963 shares in the company, valued at $551,745.15. The trade was a 14.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,800 shares of company stock valued at $1,295,538. Insiders own 10.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on SPT shares. Cantor Fitzgerald restated a “neutral” rating and issued a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. Zacks Research downgraded shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Canaccord Genuity Group dropped their price objective on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Oppenheimer decreased their target price on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Sprout Social in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.36.

Sprout Social Stock Performance

NASDAQ:SPT opened at $15.23 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $895.68 million, a price-to-earnings ratio of -16.03 and a beta of 0.86. The company’s 50-day moving average is $17.44 and its two-hundred day moving average is $20.88. Sprout Social, Inc. has a 1-year low of $13.33 and a 1-year high of $36.30.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The company had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. Sprout Social’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. Analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current 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.