Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Bailard Inc.

Bailard Inc. cut its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 82.0% in the second quarter, HoldingsChannel reports. The firm owned 9,484 shares of the company’s stock after selling 43,127 shares during the period. Bailard Inc.’s holdings in Sprout Social were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Sprout Social by 4,050.3% during the fourth quarter. International Assets Investment Management LLC now owns 6,267 shares of the company’s stock valued at $385,000 after buying an additional 6,116 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sprout Social by 9.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,046 shares of the company’s stock valued at $679,000 after acquiring an additional 931 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Sprout Social by 10.9% in the 4th quarter. Russell Investments Group Ltd. now owns 38,292 shares of the company’s stock valued at $2,353,000 after purchasing an additional 3,753 shares in the last quarter. Brighton Jones LLC raised its holdings in Sprout Social by 71.1% in the 4th quarter. Brighton Jones LLC now owns 14,513 shares of the company’s stock worth $892,000 after purchasing an additional 6,031 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Sprout Social by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 709,169 shares of the company’s stock worth $43,571,000 after purchasing an additional 56,907 shares in the last quarter.

Sprout Social Trading Up 0.9 %

Shares of SPT stock opened at $33.20 on Tuesday. The stock has a market capitalization of $1.88 billion, a P/E ratio of -26.56 and a beta of 1.00. Sprout Social, Inc. has a fifty-two week low of $25.68 and a fifty-two week high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average price of $34.67 and a 200 day moving average price of $44.02.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The company had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. The firm’s revenue was up 25.3% on a year-over-year basis. Equities research analysts predict that Sprout Social, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SPT. The Goldman Sachs Group lowered Sprout Social from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $44.00 in a research note on Friday, May 3rd. BTIG Research lowered Sprout Social from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Oppenheimer decreased their price target on shares of Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Barclays lowered their price target on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.31.

Insider Buying and Selling

In other news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $34.05, for a total transaction of $681,000.00. Following the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $13,559,697.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Ryan Paul Barretto sold 15,586 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $500,934.04. Following the completion of the transaction, the president now directly owns 484,115 shares of the company’s stock, valued at $15,559,456.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 95,970 shares of company stock valued at $3,219,603 over the last quarter. Company insiders own 10.97% of the company’s stock.

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.