Fmr LLC Buys 8,553 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Fmr LLC boosted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 21.4% during the third quarter, Holdings Channel.com reports. The firm owned 48,599 shares of the company’s stock after purchasing an additional 8,553 shares during the quarter. Fmr LLC’s holdings in Sprout Social were worth $1,413,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in Sprout Social by 3.9% in the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock valued at $96,150,000 after buying an additional 100,890 shares during the last quarter. Jennison Associates LLC raised its stake in Sprout Social by 1.0% in the third quarter. Jennison Associates LLC now owns 2,164,256 shares of the company’s stock valued at $62,915,000 after buying an additional 21,186 shares during the last quarter. Dorsey Asset Management LLC purchased a new stake in Sprout Social in the second quarter valued at about $61,583,000. Principal Financial Group Inc. raised its stake in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Sprout Social by 98.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock valued at $23,726,000 after buying an additional 330,309 shares during the last quarter.

Sprout Social Stock Down 3.1 %

Shares of SPT stock opened at $33.93 on Monday. The stock has a 50 day moving average of $29.65 and a 200 day moving average of $31.60. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.95 billion, a P/E ratio of -28.27 and a beta of 1.03. 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 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 business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. As a group, sell-side analysts expect that Sprout Social, Inc. will post -0.98 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Thursday, August 22nd. Barclays reduced their price objective on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Piper Sandler reduced their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.46.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at $209,381.91. The trade was a 72.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at $4,484,017.78. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,765 shares of company stock valued at $1,505,079. Company insiders own 10.97% of the company’s stock.

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.