SG Americas Securities LLC Takes $576,000 Position in Sprout Social, Inc. (NASDAQ:SPT)

SG Americas Securities LLC purchased a new position in shares of Sprout Social, Inc. (NASDAQ:SPT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,825 shares of the company’s stock, valued at approximately $576,000.

Several other hedge funds have also made changes to their positions in the business. Dorsey Asset Management LLC purchased a new stake in Sprout Social during the 2nd quarter worth about $61,583,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Sprout Social during the 1st quarter worth $22,332,000. Allspring Global Investments Holdings LLC grew its stake in shares of Sprout Social by 98.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock worth $23,726,000 after purchasing an additional 330,309 shares in the last quarter. Millennium Management LLC raised its stake in Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock valued at $11,819,000 after buying an additional 327,907 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after acquiring an additional 311,146 shares during the last quarter.

Sprout Social Stock Down 1.6 %

SPT opened at $28.45 on Tuesday. The business’s fifty day simple moving average is $29.76 and its 200 day simple moving average is $35.89. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. The firm has a market cap of $1.61 billion, a P/E ratio of -22.76 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (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 business had revenue of $99.40 million for the quarter, compared to the consensus estimate of $98.70 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions 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 Tuesday, August 6th. The stock was sold at an average price of $30.68, for a total value of $613,600.00. Following the transaction, the chief executive officer now directly owns 310,812 shares of the company’s stock, valued at $9,535,712.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the sale, the chief executive officer now owns 170,175 shares of the company’s stock, valued at $4,807,443.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.68, for a total transaction of $613,600.00. Following the completion of the transaction, the chief executive officer now directly owns 310,812 shares of the company’s stock, valued at approximately $9,535,712.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,882 shares of company stock worth $2,570,471 in the last ninety days. Insiders own 10.97% of the company’s stock.

Wall Street Analyst Weigh In

SPT has been the subject of a number of research reports. Barclays reduced their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday. KeyCorp lowered shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 22nd. Robert W. Baird boosted their target price on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.25.

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.