Sprout Social, Inc. (NASDAQ:SPT) Shares Bought by Centiva Capital LP

Centiva Capital LP increased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 109.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,854 shares of the company's stock after buying an additional 23,400 shares during the quarter. Centiva Capital LP owned about 0.08% of Sprout Social worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Sprout Social by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company's stock valued at $497,000 after buying an additional 529 shares during the period. Diversified Trust Co lifted its stake in shares of Sprout Social by 3.8% in the 3rd quarter. Diversified Trust Co now owns 15,770 shares of the company's stock valued at $458,000 after purchasing an additional 571 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Sprout Social by 6.1% in the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company's stock valued at $402,000 after purchasing an additional 646 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Sprout Social by 3.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 19,951 shares of the company's stock worth $712,000 after purchasing an additional 750 shares during the last quarter. Finally, Quarry LP raised its holdings in Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company's stock valued at $28,000 after buying an additional 751 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPT shares. KeyCorp cut shares of Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price target for the company. in a research report on Thursday, August 22nd. Oppenheimer dropped their target price on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target on the stock. Piper Sandler dropped 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, Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.46.

Sprout Social Stock Up 0.1 %

NASDAQ SPT traded up $0.03 during trading on Thursday, reaching $32.03. 452,435 shares of the company's stock were exchanged, compared to its average volume of 733,837. The company has a 50 day moving average price of $29.00 and a two-hundred day moving average price of $31.54. The stock has a market cap of $1.84 billion, a P/E ratio of -26.88 and a beta of 1.03. 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.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 business had revenue of $102.64 million for the quarter, compared to analysts' expectations of $102.04 million. On average, equities research analysts anticipate that Sprout Social, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.27, for a total transaction of $42,405.00. Following the completion of the sale, the chief financial officer now owns 158,614 shares in the company, valued at $4,484,017.78. This represents a 0.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the transaction, the chief executive officer now owns 170,175 shares in the company, valued at approximately $4,807,443.75. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,765 shares of company stock valued at $1,505,079 in the last three months. 10.97% of the stock is currently owned by company insiders.

Sprout Social 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.