Counterpoint Mutual Funds LLC Buys 183,150 Shares of Sprout Social, Inc. $SPT

Counterpoint Mutual Funds LLC increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 941.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,611 shares of the company’s stock after purchasing an additional 183,150 shares during the period. Counterpoint Mutual Funds LLC owned approximately 0.34% of Sprout Social worth $2,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPT. First Horizon Advisors Inc. raised its holdings in shares of Sprout Social by 78.9% in the second quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock valued at $32,000 after acquiring an additional 675 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Sprout Social during the third quarter valued at approximately $30,000. Versant Capital Management Inc boosted its position in shares of Sprout Social by 2,754.5% in the 3rd quarter. Versant Capital Management Inc now owns 3,511 shares of the company’s stock worth $45,000 after purchasing an additional 3,388 shares in the last quarter. CWM LLC grew its stake in shares of 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 acquiring an additional 2,860 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Sprout Social by 55.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,496 shares of the company’s stock valued at $115,000 after purchasing an additional 1,962 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin purchased 90,661 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $11.14 per share, for a total transaction of $1,009,963.54. Following the completion of the purchase, the director directly owned 114,969 shares in the company, valued at approximately $1,280,754.66. The trade was a 372.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto acquired 93,984 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were bought at an average cost of $10.67 per share, for a total transaction of $1,002,809.28. Following the transaction, the chief executive officer directly owned 875,256 shares of the company’s stock, valued at approximately $9,338,981.52. This trade represents a 12.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 10.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SPT shares. Barclays cut their price objective on Sprout Social from $26.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Canaccord Genuity Group lowered their target price on shares of Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Jefferies Financial Group dropped their price target on shares of Sprout Social from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a research note on Thursday, January 22nd. Finally, Morgan Stanley dropped their target price on shares of Sprout Social from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.91.

Sprout Social Stock Down 8.5%

Shares of SPT opened at $6.49 on Tuesday. The company’s 50-day simple moving average is $9.47 and its 200-day simple moving average is $11.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. Sprout Social, Inc. has a 1 year low of $6.44 and a 1 year high of $29.01. The stock has a market capitalization of $384.14 million, a PE ratio of -8.01 and a beta of 0.90.

Sprout Social Company Profile

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.