Geode Capital Management LLC Has $34.18 Million Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Geode Capital Management LLC grew its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,175,538 shares of the company's stock after acquiring an additional 22,320 shares during the quarter. Geode Capital Management LLC owned about 2.06% of Sprout Social worth $34,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Dorsey Asset Management LLC purchased a new stake in shares of Sprout Social in the second quarter valued at about $61,583,000. Wellington Management Group LLP boosted its holdings in Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock valued at $109,374,000 after purchasing an additional 519,406 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Sprout Social during the 3rd quarter worth approximately $10,717,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Sprout Social by 98.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock valued at $23,726,000 after buying an additional 330,309 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Sprout Social by 9,779.5% during the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company's stock worth $11,819,000 after purchasing an additional 327,907 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Piper Sandler reduced their target price on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Scotiabank initiated 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. Barclays reduced their price objective on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Finally, Oppenheimer lowered their price target on Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $45.46.

Insider Buying and Selling at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the business's 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 transaction, the chief executive officer now owns 170,175 shares of the company's stock, valued at approximately $4,807,443.75. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 20,000 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at $209,381.91. This represents a 72.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,765 shares of company stock worth $1,676,279 over the last 90 days. Insiders own 10.97% of the company's stock.

Sprout Social Stock Down 1.4 %

Shares of NASDAQ SPT traded down $0.46 during mid-day trading on Thursday, reaching $31.95. The company had a trading volume of 267,014 shares, compared to its average volume of 725,734. 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, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The stock's 50 day moving average is $30.47 and its 200-day moving average is $31.61. The stock has a market capitalization of $1.83 billion, a PE ratio of -26.62 and a beta of 1.03.

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