Hsbc Holdings PLC Increases Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Hsbc Holdings PLC boosted its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 134.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,589 shares of the company’s stock after acquiring an additional 7,793 shares during the period. Hsbc Holdings PLC’s holdings in Sprout Social were worth $472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social during the 1st quarter valued at about $27,000. Arizona State Retirement System lifted its holdings in shares of Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after acquiring an additional 529 shares during the last quarter. Lazard Asset Management LLC grew its position in Sprout Social by 49.0% in the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after acquiring an additional 613 shares in the last quarter. EntryPoint Capital LLC bought a new position in Sprout Social in the first quarter valued at $37,000. Finally, Covestor Ltd raised its position in Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after purchasing an additional 709 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.13, for a total transaction of $722,600.00. Following the completion of the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at approximately $14,388,013.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $388,934.38. Following the sale, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.13, for a total value of $722,600.00. Following the completion of the transaction, the chief executive officer now directly owns 398,229 shares of the company’s stock, valued at approximately $14,388,013.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,782 shares of company stock worth $2,615,786. 10.97% of the stock is owned by insiders.

Sprout Social Stock Performance

Shares of SPT stock opened at $28.40 on Wednesday. The company’s fifty day moving average price is $31.27 and its 200-day moving average price is $37.81. The stock has a market cap of $1.62 billion, a PE ratio of -22.72 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping 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 business had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Sprout Social’s quarterly revenue was up 25.3% on a year-over-year basis. On average, equities analysts expect that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

SPT has been the subject of a number of research reports. Robert W. Baird upped their price objective on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research note on Friday, August 2nd. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Thursday, August 22nd. Finally, Barclays decreased their target price 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 given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and an average price target of $51.31.

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.