Truist Financial Corp Purchases 646 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Truist Financial Corp raised its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 6.1% in the second quarter, HoldingsChannel reports. The firm owned 11,260 shares of the company’s stock after acquiring an additional 646 shares during the period. Truist Financial Corp’s holdings in Sprout Social were worth $402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in Sprout Social during the 1st quarter worth $27,000. Quarry LP grew its stake in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after buying an additional 751 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Sprout Social during the 1st quarter worth $37,000. Covestor Ltd grew its stake in Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after buying an additional 709 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Sprout Social during the 1st quarter worth $61,000.

Insider Buying and Selling

In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 13,306 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the sale, the president now owns 470,809 shares of the company’s stock, valued at $13,761,747.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares of the company’s stock, valued at $4,484,017.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,882 shares of company stock valued at $2,570,471. 10.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SPT has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Thursday, August 22nd. Barclays lowered their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Robert W. Baird lifted their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.25.

Sprout Social Stock Performance

NASDAQ SPT opened at $28.30 on Friday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -21.60 and a beta of 0.97. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $29.65 and a 200 day moving average of $35.58.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. Sprout Social’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) EPS. Sell-side analysts anticipate that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Sprout Social Company 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.