ExodusPoint Capital Management LP Purchases 31,899 Shares of Sprout Social, Inc. (NASDAQ:SPT)

ExodusPoint Capital Management LP lifted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,768 shares of the company's stock after buying an additional 31,899 shares during the period. ExodusPoint Capital Management LP owned approximately 0.15% of Sprout Social worth $2,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock worth $11,714,000 after acquiring an additional 307,906 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Sprout Social during the 3rd quarter worth approximately $1,074,000. Zacks Investment Management bought a new position in shares of Sprout Social during the 3rd quarter worth about $2,120,000. Geode Capital Management LLC grew its stake in shares of Sprout Social by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company's stock valued at $34,179,000 after purchasing an additional 22,320 shares during the period. Finally, Barclays PLC increased its position in shares of Sprout Social by 339.5% during the 3rd quarter. Barclays PLC now owns 90,234 shares of the company's stock worth $2,623,000 after purchasing an additional 69,704 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Karen Walker sold 5,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now directly owns 30,665 shares of the company's stock, valued at approximately $927,922.90. This represents a 14.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,446 shares of company stock worth $4,436,839. 10.97% of the stock is currently owned by company insiders.

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Sprout Social Trading Down 0.9 %

Shares of Sprout Social stock traded down $0.18 on Friday, hitting $19.66. The stock had a trading volume of 462,525 shares, compared to its average volume of 758,346. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -16.38 and a beta of 1.11. 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 stock's 50-day simple moving average is $25.75 and its two-hundred day simple moving average is $28.96. Sprout Social, Inc. has a one year low of $18.72 and a one year high of $56.58.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SPT shares. Piper Sandler cut their price target on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Barclays lowered their price objective on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group raised their price target on Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a report on Monday, February 3rd. One research 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 MarketBeat, Sprout Social has a consensus rating of "Hold" and an average target price of $33.85.

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.