Holocene Advisors LP Cuts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Holocene Advisors LP lowered its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 40.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,391 shares of the company's stock after selling 34,145 shares during the quarter. Holocene Advisors LP owned about 0.09% of Sprout Social worth $1,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP raised its stake in shares of Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company's stock worth $28,000 after purchasing an additional 751 shares during the last quarter. nVerses Capital LLC raised its position in Sprout Social by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company's stock valued at $107,000 after buying an additional 1,300 shares during the last quarter. Assetmark Inc. raised its position in Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company's stock valued at $108,000 after buying an additional 801 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Sprout Social during the 2nd quarter valued at $218,000. Finally, Entropy Technologies LP purchased a new position in Sprout Social during the 3rd quarter worth $265,000.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank initiated coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a "sector perform" rating and a $28.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. Piper Sandler reduced their target price on Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, November 11th. Oppenheimer decreased 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. Finally, KeyCorp cut Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 22nd. One research 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. Based on data from MarketBeat.com, Sprout Social currently has an average rating of "Hold" and a consensus price target of $45.46.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.23, for a total value of $564,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at $209,381.91. This trade represents a 72.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the transaction, the chief executive officer now owns 546,343 shares of the company's stock, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,765 shares of company stock valued at $1,505,079 over the last three months. Company insiders own 10.97% of the company's stock.

Sprout Social Stock Performance

Sprout Social stock traded up $0.40 during midday trading on Friday, reaching $32.43. The stock had a trading volume of 390,726 shares, compared to its average volume of 590,359. 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 firm has a market capitalization of $1.86 billion, a PE ratio of -27.02 and a beta of 1.03. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41. The firm's 50-day moving average price is $29.12 and its 200 day moving average price is $31.55.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $102.64 million for the quarter, compared to analysts' expectations of $102.04 million. As a group, research analysts predict 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.