Park Avenue Securities LLC Has $283,000 Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Park Avenue Securities LLC lessened its position in Sprout Social, Inc. (NASDAQ:SPT) by 36.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,732 shares of the company’s stock after selling 2,690 shares during the period. Park Avenue Securities LLC’s holdings in Sprout Social were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SPT. Arcadia Investment Management Corp MI increased its holdings in Sprout Social by 36.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares in the last quarter. RiverPark Advisors LLC grew its position in shares of Sprout Social by 67.8% in the 4th quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock valued at $77,000 after buying an additional 504 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Sprout Social by 14.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after buying an additional 323 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Sprout Social by 169.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,434 shares of the company’s stock valued at $150,000 after buying an additional 1,530 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Sprout Social by 28.9% in the 4th quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after buying an additional 650 shares during the last quarter.

Sprout Social Stock Performance

Shares of SPT stock opened at $37.27 on Tuesday. The firm has a 50-day moving average of $35.13 and a 200-day moving average of $51.27. The company has a market cap of $2.11 billion, a P/E ratio of -29.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. Sprout Social, Inc. has a one year low of $25.68 and a one year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.10. The company had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. Equities research analysts forecast that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays reduced their price target on Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird cut their target price on Sprout Social from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley cut their target price on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group lowered Sprout Social from a “buy” rating to a “neutral” rating and cut their target price for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group cut their target price on Sprout Social from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.57.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the completion of the transaction, the chief executive officer now owns 398,229 shares in the company, valued at $13,559,697.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $681,000.00. Following the completion of the transaction, the chief executive officer now owns 398,229 shares in the company, valued at $13,559,697.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $28.51, for a total transaction of $42,765.00. Following the transaction, the chief financial officer now owns 171,144 shares of the company’s stock, valued at approximately $4,879,315.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,370 shares of company stock worth $4,583,558. 10.97% of the stock is owned by company insiders.

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.