Baillie Gifford & Co. cut its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,494,823 shares of the company's stock after selling 237,337 shares during the period. Baillie Gifford & Co. owned 6.09% of Sprout Social worth $107,326,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Sprout Social by 2.1% in the fourth quarter. Rhumbline Advisers now owns 70,202 shares of the company's stock worth $2,156,000 after buying an additional 1,446 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Sprout Social by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock valued at $66,689,000 after acquiring an additional 7,311 shares in the last quarter. KBC Group NV boosted its position in shares of Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after acquiring an additional 1,099 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock worth $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new position in shares of Sprout Social in the fourth quarter worth approximately $206,000.
Sprout Social Trading Down 1.9 %
NASDAQ:SPT traded down $0.55 during midday trading on Friday, reaching $28.41. 605,606 shares of the stock traded hands, compared to its average volume of 550,156. The stock has a market capitalization of $1.63 billion, a P/E ratio of -23.67 and a beta of 1.06. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $65.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day moving average of $32.14 and a 200 day moving average of $30.61.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on SPT shares. Scotiabank started coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a "sector perform" rating and a $28.00 target price for the company. Morgan Stanley upped their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Oppenheimer lowered their price target on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 3rd. Jefferies Financial Group upped their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Sprout Social presently has a consensus rating of "Hold" and a consensus target price of $39.58.
View Our Latest Research Report on Sprout Social
Insider Transactions at Sprout Social
In related news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now owns 7,417 shares in the company, valued at $241,720.03. The trade was a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the transaction, the chief executive officer now owns 153,375 shares of the company's stock, valued at $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,265 shares of company stock worth $3,837,006. Company insiders own 10.97% of the company's stock.
Sprout Social Profile
(
Free Report)
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.
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