AlphaQuest LLC Lowers Holdings in Sprout Social, Inc. (NASDAQ:SPT)

AlphaQuest LLC reduced its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 96.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,468 shares of the company's stock after selling 45,612 shares during the quarter. AlphaQuest LLC's holdings in Sprout Social were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP grew its position in Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock valued at $46,000 after buying an additional 790 shares during the period. US Bancorp DE increased its stake in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the period. KBC Group NV grew its position in shares of Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after buying an additional 1,099 shares during the last quarter. Yarbrough Capital LLC purchased a new position in shares of Sprout Social in the 4th quarter valued at approximately $206,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock valued at $265,000 after purchasing an additional 2,533 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPT. Canaccord Genuity Group cut their price objective on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their target price on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Scotiabank lowered their price target on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Finally, Barclays decreased their target price on Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $33.85.

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Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, the insider now directly owns 27,136 shares of the company's stock, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares of the company's stock, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,446 shares of company stock worth $3,823,551. 10.97% of the stock is owned by company insiders.

Sprout Social Trading Up 0.4 %

NASDAQ:SPT traded up $0.10 during mid-day trading on Monday, hitting $25.27. 416,289 shares of the company's stock were exchanged, compared to its average volume of 708,378. The firm has a market capitalization of $1.46 billion, a P/E ratio of -21.06 and a beta of 1.11. Sprout Social, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $62.34. The company has a 50 day simple moving average of $29.51 and a 200-day simple moving average of $29.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.35). The firm had revenue of $107.09 million for the quarter, compared to analysts' expectations of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, research analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current 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.