Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by Barclays PLC

Barclays PLC lifted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 339.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,234 shares of the company's stock after purchasing an additional 69,704 shares during the period. Barclays PLC owned about 0.16% of Sprout Social worth $2,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SPT. Impax Asset Management Group plc lifted its holdings in Sprout Social by 46.6% in the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company's stock valued at $5,486,000 after purchasing an additional 60,000 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of Sprout Social in the second quarter valued at about $4,345,000. Principal Financial Group Inc. lifted its stake in shares of Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock worth $34,868,000 after buying an additional 200,190 shares in the last quarter. Zacks Investment Management acquired a new position in Sprout Social during the third quarter worth about $2,120,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Sprout Social by 133.3% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company's stock valued at $4,217,000 after acquiring an additional 82,879 shares in the last quarter.

Insider Buying and Selling

In other news, insider Justyn Russell Howard sold 20,000 shares of the business's 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 transaction, the insider now owns 7,417 shares of the company's stock, valued at approximately $209,381.91. The trade was a 72.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.24, for a total value of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company's stock, valued at approximately $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,765 shares of company stock worth $1,676,279 in the last 90 days. Company insiders own 10.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler reduced their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Barclays decreased their target price on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Scotiabank assumed coverage on shares of Sprout Social in a report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, November 8th. Finally, Oppenheimer cut their target price 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.46.

Sprout Social Stock Up 1.1 %

SPT stock traded up $0.35 during midday trading on Wednesday, reaching $32.41. 176,740 shares of the company were exchanged, compared to its average volume of 727,584. The stock's 50-day simple moving average is $30.32 and its 200 day simple moving average is $31.61. Sprout Social, Inc. has a 1-year low of $25.05 and a 1-year high of $68.41. 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 market cap of $1.86 billion, a price-to-earnings ratio of -27.01 and a beta of 1.03.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $102.64 million for the quarter, compared to analysts' expectations of $102.04 million. On average, equities analysts forecast that Sprout Social, Inc. will post -0.98 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.