PNC Financial Services Group Inc. Acquires 2,533 Shares of Sprout Social, Inc. (NASDAQ:SPT)

PNC Financial Services Group Inc. grew its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 41.6% in the 4th quarter, HoldingsChannel reports. The firm owned 8,620 shares of the company’s stock after acquiring an additional 2,533 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sprout Social were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Sprout Social during the 4th quarter valued at $1,184,000. M&T Bank Corp lifted its stake in shares of Sprout Social by 52.0% during the 4th quarter. M&T Bank Corp now owns 56,157 shares of the company’s stock valued at $1,724,000 after buying an additional 19,213 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Sprout Social by 14.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,734 shares of the company’s stock worth $14,456,000 after buying an additional 60,323 shares during the period. US Bancorp DE raised its holdings in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after acquiring an additional 1,627 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Sprout Social by 28.9% during the fourth quarter. Handelsbanken Fonder AB now owns 11,600 shares of the company’s stock worth $356,000 after acquiring an additional 2,600 shares in the last quarter.

Wall Street Analyst Weigh In

SPT has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group dropped their price objective on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.85.

Insider Activity at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now directly owns 42,122 shares of the company’s stock, valued at $1,035,358.76. This trade represents a 35.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock worth $3,823,551 over the last 90 days. 10.97% of the stock is owned by company insiders.

Sprout Social Trading Up 0.3 %

SPT opened at $25.17 on Friday. Sprout Social, Inc. has a one year low of $22.95 and a one year high of $62.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $29.51 and a two-hundred day simple moving average of $29.70. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -20.97 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

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.