Franklin Resources Inc. Raises Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Franklin Resources Inc. boosted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,256 shares of the company’s stock after acquiring an additional 1,034 shares during the period. Franklin Resources Inc.’s holdings in Sprout Social were worth $576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in Sprout Social by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after buying an additional 529 shares during the last quarter. Diversified Trust Co lifted its position in shares of Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock valued at $458,000 after acquiring an additional 571 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Sprout Social by 6.1% in the second quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after acquiring an additional 646 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Sprout Social by 3.9% during the second quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company’s stock worth $712,000 after purchasing an additional 750 shares in the last quarter. Finally, Quarry LP raised its stake in Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the last quarter.

Sprout Social Stock Down 0.9 %

Shares of SPT opened at $31.12 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.79 billion, a P/E ratio of -25.93 and a beta of 1.03. The company’s 50-day moving average price is $30.54 and its 200 day moving average price is $31.55. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. On average, sell-side analysts forecast that Sprout Social, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPT. Oppenheimer lowered their target price on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Piper Sandler lowered their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Barclays cut their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.46.

Insider Transactions at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at $1,221,169.60. This represents a 12.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 158,614 shares of the company’s stock, valued at $4,484,017.78. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,765 shares of company stock worth $1,676,279 over the last ninety days. 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.