Barclays PLC Has $2.62 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Barclays PLC increased its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 339.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 90,234 shares of the company’s stock after acquiring an additional 69,704 shares during the quarter. Barclays PLC’s holdings in Sprout Social were worth $2,623,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quarry LP grew its stake in shares of Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares during the last quarter. nVerses Capital LLC lifted its holdings in Sprout Social by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $107,000 after buying an additional 1,300 shares during the period. Assetmark Inc. grew its position in shares of Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after buying an additional 801 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sprout Social in the second quarter valued at about $218,000. Finally, Entropy Technologies LP bought a new position in shares of Sprout Social during the third quarter worth about $265,000.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the transaction, the chief executive officer now directly owns 170,175 shares in the company, valued at approximately $4,807,443.75. This trade represents a 8.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the completion of the sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $209,381.91. The trade was a 72.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,765 shares of company stock valued at $1,676,279. Corporate insiders own 10.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Oppenheimer reduced their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Piper Sandler reduced their price objective on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Scotiabank initiated coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Finally, Barclays lowered their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.46.

Sprout Social Stock Up 1.1 %

SPT stock opened at $32.41 on Wednesday. The stock’s 50 day simple moving average is $30.26 and its 200 day simple moving average is $31.61. The company has a market cap of $1.86 billion, a P/E ratio of -27.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41.

Sprout Social (NASDAQ:SPT) last released 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 net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. On average, research analysts expect that Sprout Social, Inc. will post -0.98 earnings per share 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.