VIRGINIA RETIREMENT SYSTEMS ET Al Invests $253,000 in Sprout Social, Inc. $SPT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Sprout Social, Inc. (NASDAQ:SPT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,100 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPT. Quarry LP lifted its position in shares of Sprout Social by 85.2% in the 1st quarter. Quarry LP now owns 1,463 shares of the company’s stock worth $32,000 after purchasing an additional 673 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sprout Social in the 1st quarter worth approximately $47,000. CWM LLC grew its stake in Sprout Social by 266.3% during the second quarter. CWM LLC now owns 3,934 shares of the company’s stock worth $82,000 after purchasing an additional 2,860 shares during the period. AlphaQuest LLC grew its stake in Sprout Social by 205.1% during the first quarter. AlphaQuest LLC now owns 4,479 shares of the company’s stock worth $98,000 after purchasing an additional 3,011 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Sprout Social by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company’s stock worth $206,000 after purchasing an additional 747 shares during the period.

Insider Activity

In other news, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $11.81, for a total value of $236,200.00. Following the completion of the sale, the insider owned 7,417 shares in the company, valued at $87,594.77. This represents a 72.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 50,566 shares of company stock valued at $695,181. Corporate insiders own 10.12% of the company’s stock.

Sprout Social Stock Performance

Shares of SPT stock opened at $11.25 on Monday. The firm has a market capitalization of $661.61 million, a PE ratio of -11.84 and a beta of 0.84. The firm has a fifty day simple moving average of $13.51 and a two-hundred day simple moving average of $17.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. Sprout Social, Inc. has a 12 month low of $10.33 and a 12 month 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 analysts’ consensus estimates of $0.15 by $0.03. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.The company had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPT has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group dropped their target price on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a research report on Saturday. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Zacks Research downgraded shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and an average target price of $27.36.

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.