Edgestream Partners L.P. Acquires 98,574 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Edgestream Partners L.P. grew its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 362.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,742 shares of the company's stock after buying an additional 98,574 shares during the quarter. Edgestream Partners L.P. owned 0.22% of Sprout Social worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SPT. Impax Asset Management Group plc raised its position 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 worth $5,486,000 after buying an additional 60,000 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Sprout Social during the second quarter valued at approximately $4,345,000. Principal Financial Group Inc. lifted its position in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after purchasing an additional 200,190 shares during the period. Emerald Mutual Fund Advisers Trust lifted its position in Sprout Social by 133.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company's stock valued at $4,217,000 after purchasing an additional 82,879 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Sprout Social by 3.9% in the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company's stock worth $96,150,000 after purchasing an additional 100,890 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays decreased their target price on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Needham & Company LLC reissued a "buy" rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. KeyCorp downgraded 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. Oppenheimer lowered their price objective on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler cut their target price on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.62.

Sprout Social Price Performance

SPT stock traded down $0.57 during trading on Monday, reaching $31.45. The company's stock had a trading volume of 466,619 shares, compared to its average volume of 735,636. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company's fifty day moving average is $28.82 and its 200-day moving average is $31.52. The company has a market capitalization of $1.81 billion, a P/E ratio of -26.05 and a beta of 0.99. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results 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 business had revenue of $102.64 million for the quarter, compared to analysts' expectations of $102.04 million. On average, research analysts expect that Sprout Social, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now directly owns 158,614 shares of the company's stock, valued at approximately $4,484,017.78. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the sale, the director now owns 42,122 shares in the company, valued at $1,231,226.06. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,882 shares of company stock valued at $1,801,351 in the last three months. 10.97% of the stock is currently owned by corporate insiders.

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.