Vanguard Group Inc. Has $311.55 Million Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Vanguard Group Inc. lowered its stake in Sprout Social, Inc. (NASDAQ:SPT) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,070,719 shares of the company’s stock after selling 13,670 shares during the period. Vanguard Group Inc. owned 0.09% of Sprout Social worth $311,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPT. Arcadia Investment Management Corp MI boosted its position in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after buying an additional 281 shares during the period. RiverPark Advisors LLC grew its stake in shares of Sprout Social by 67.8% in the fourth quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock worth $77,000 after purchasing an additional 504 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Sprout Social by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after purchasing an additional 323 shares during the period. DekaBank Deutsche Girozentrale raised its position in Sprout Social by 169.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,434 shares of the company’s stock worth $150,000 after purchasing an additional 1,530 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Sprout Social by 28.9% during the 4th quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock worth $178,000 after buying an additional 650 shares during the period.

Sprout Social Trading Up 4.7 %

Shares of Sprout Social stock opened at $35.68 on Friday. The stock has a market capitalization of $2.02 billion, a PE ratio of -28.54 and a beta of 0.99. Sprout Social, Inc. has a 52 week low of $25.68 and a 52 week high of $68.41. The stock has a 50 day moving average price of $35.41 and a two-hundred day moving average price of $51.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. The business had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. As a group, equities analysts anticipate that Sprout Social, Inc. will post -0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPT. Canaccord Genuity Group lowered their price objective on Sprout Social from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Barclays lowered their price target on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. KeyCorp lowered shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 3rd. Oppenheimer lowered their target price on shares of Sprout Social from $76.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler cut shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their price target for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.57.

Insider Transactions at Sprout Social

In other news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $34.05, for a total value of $681,000.00. Following the completion of the sale, the chief executive officer now directly owns 398,229 shares of the company’s stock, valued at $13,559,697.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $34.05, for a total value of $681,000.00. Following the completion of the sale, the chief executive officer now owns 398,229 shares in the company, valued at approximately $13,559,697.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the sale, the chief financial officer now owns 172,644 shares of the company’s stock, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. Insiders sold a total of 108,870 shares of company stock valued at $4,673,003 over the last three months. Corporate insiders own 10.97% of the company’s stock.

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.