Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 97.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,602 shares of the company’s stock after selling 200,934 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Sprout Social were worth $200,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Sprout Social by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company’s stock worth $308,368,000 after purchasing an additional 93,712 shares during the period. Clearbridge Investments LLC lifted its holdings in Sprout Social by 2.4% in the first quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock worth $154,882,000 after acquiring an additional 61,568 shares during the last quarter. Jennison Associates LLC boosted its stake in Sprout Social by 17.0% in the first 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 period. Wasatch Advisors LP grew its holdings in shares of Sprout Social by 2.5% during the first quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock valued at $105,423,000 after purchasing an additional 43,262 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Sprout Social by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 999,261 shares of the company’s stock worth $35,654,000 after purchasing an additional 118,160 shares during the period.

Insider Transactions at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 11,200 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.10, for a total transaction of $404,320.00. Following the completion of the sale, the president now directly owns 186,975 shares of the company’s stock, valued at $6,749,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, President Ryan Paul Barretto sold 11,200 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $36.10, for a total transaction of $404,320.00. Following the sale, the president now owns 186,975 shares in the company, valued at $6,749,797.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.02, for a total transaction of $46,530.00. Following the completion of the transaction, the chief financial officer now directly owns 164,124 shares of the company’s stock, valued at approximately $5,091,126.48. The disclosure for this sale can be found here. Insiders have sold 80,782 shares of company stock valued at $2,615,786 over the last three months. Company insiders own 10.97% of the company’s stock.

Analysts Set New Price Targets

SPT has been the subject of a number of recent research reports. Barclays lowered their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Robert W. Baird upped their price target on shares of 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 reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. Finally, KeyCorp lowered shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Sprout Social presently has an average rating of “Hold” and a consensus target price of $51.31.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $29.07 on Monday. The firm has a 50-day moving average of $31.62 and a two-hundred day moving average of $38.20. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -23.26 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its 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 firm had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. As a group, analysts expect that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

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.