Rhumbline Advisers Has $1.69 Million Stock Position in Sprout Social, Inc. $SPT

Rhumbline Advisers grew its position in Sprout Social, Inc. (NASDAQ:SPT) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 76,976 shares of the company’s stock after buying an additional 6,774 shares during the period. Rhumbline Advisers owned 0.13% of Sprout Social worth $1,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Sprout Social by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,900,938 shares of the company’s stock worth $129,762,000 after purchasing an additional 14,771 shares during the period. Jennison Associates LLC grew its stake in shares of Sprout Social by 1.3% during the first quarter. Jennison Associates LLC now owns 2,200,443 shares of the company’s stock worth $48,388,000 after purchasing an additional 28,876 shares during the period. Nuveen LLC acquired a new stake in shares of Sprout Social during the first quarter worth $13,131,000. Charles Schwab Investment Management Inc. grew its stake in shares of Sprout Social by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 482,644 shares of the company’s stock worth $10,613,000 after purchasing an additional 11,910 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Sprout Social by 110.7% during the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock worth $13,947,000 after purchasing an additional 238,650 shares during the period.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $14.67 on Friday. The business’s 50 day moving average price is $16.07 and its two-hundred day moving average price is $19.83. The company has a market cap of $862.74 million, a PE ratio of -15.44 and a beta of 0.86. 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 twelve month low of $13.33 and a twelve month high of $36.30.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on SPT. Canaccord Genuity Group reduced their target price on Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of Sprout Social in a report on Wednesday, May 28th. The Goldman Sachs Group reduced their target price on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Zacks Research lowered Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $24.00 target price on shares of Sprout Social in a report on Tuesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.36.

Insider Activity

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 119,775 shares in the company, valued at approximately $2,534,439. This trade represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 7,417 shares of the company’s stock, valued at approximately $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,366 shares of company stock worth $1,754,519. Insiders own 10.12% of the company’s stock.

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.