Bank of New York Mellon Corp Has $7.33 Million Holdings in Sprout Social, Inc. $SPT

Bank of New York Mellon Corp decreased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,489 shares of the company’s stock after selling 30,520 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.60% of Sprout Social worth $7,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock valued at $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sprout Social by 11.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company’s stock valued at $373,000 after buying an additional 1,703 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Sprout Social during the 1st quarter worth approximately $5,354,000. PNC Financial Services Group Inc. grew its holdings in Sprout Social by 8.7% during 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 last quarter. Finally, Vanguard Group Inc. increased its position in Sprout Social by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,900,938 shares of the company’s stock valued at $129,762,000 after acquiring an additional 14,771 shares during the period.

Sprout Social Stock Performance

NASDAQ:SPT opened at $9.75 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. Sprout Social, Inc. has a twelve month low of $9.16 and a twelve month high of $36.30. The company has a fifty day moving average of $11.58 and a 200-day moving average of $16.37. The firm has a market capitalization of $577.09 million, a P/E ratio of -12.04 and a beta of 0.88.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. Sprout Social had a negative net margin of 10.59% and a negative return on equity of 18.93%. The business had revenue of $115.59 million during the quarter, compared to analysts’ expectations of $114.86 million. During the same period last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Sprout Social has set its FY 2025 guidance at 0.770-0.790 EPS. Q4 2025 guidance at 0.150-0.170 EPS. As a group, sell-side analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Activity at Sprout Social

In related news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $10.22, for a total value of $204,400.00. Following the completion of the sale, the insider directly owned 7,417 shares of the company’s stock, valued at $75,801.74. The trade was a 72.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 70,566 shares of company stock valued at $899,581. Company insiders own 10.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPT shares. Zacks Research lowered shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Oppenheimer cut their target price on Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sprout Social in a research note on Wednesday, October 8th. Morgan Stanley cut their price objective on Sprout Social from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, 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. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sprout Social presently has an average rating of “Hold” and an average price target of $25.82.

Sprout Social 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.