Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,729 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sprout Social, Inc. (NASDAQ:SPT) by 28.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,463 shares of the company’s stock after acquiring an additional 2,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sprout Social were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Sprout Social by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company’s stock valued at $308,368,000 after acquiring an additional 93,712 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Sprout Social by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock worth $154,882,000 after buying an additional 61,568 shares during the period. Jennison Associates LLC boosted its holdings in shares of Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock worth $127,625,000 after buying an additional 311,146 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Sprout Social by 2.5% during the 1st quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock worth $105,423,000 after buying an additional 43,262 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Sprout Social by 25.8% during the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company’s stock worth $58,217,000 after buying an additional 200,000 shares during the period.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $27.08 on Friday. The firm has a 50 day moving average of $34.07 and a 200-day moving average of $41.94. The stock has a market capitalization of $1.53 billion, a PE ratio of -21.66 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 12 month low of $25.68 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company 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 business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. On average, equities research analysts predict that Sprout Social, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Ryan Paul Barretto sold 11,200 shares of the company’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 completion of the transaction, the president now directly owns 186,975 shares in the company, valued at approximately $6,749,797.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the transaction, the director now directly owns 42,122 shares in the company, valued at approximately $1,231,226.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Ryan Paul Barretto sold 11,200 shares of the company’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 completion of the transaction, the president now owns 186,975 shares of the company’s stock, valued at $6,749,797.50. The disclosure for this sale can be found here. Insiders sold a total of 82,282 shares of company stock worth $2,670,776 in the last three months. 10.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SPT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays cut their price objective on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $51.31.

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.