Impax Asset Management Group plc Grows Position in Sprout Social, Inc. (NASDAQ:SPT)

Impax Asset Management Group plc grew its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 46.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,724 shares of the company's stock after purchasing an additional 60,000 shares during the period. Impax Asset Management Group plc owned approximately 0.33% of Sprout Social worth $5,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SPT. Dorsey Asset Management LLC purchased a new stake in Sprout Social in the second quarter valued at approximately $61,583,000. Jericho Capital Asset Management L.P. acquired a new position in Sprout Social during the 1st quarter worth about $22,332,000. Allspring Global Investments Holdings LLC boosted its holdings in Sprout Social by 98.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock valued at $23,726,000 after acquiring an additional 330,309 shares during the period. Millennium Management LLC grew its position in Sprout Social by 9,779.5% in the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company's stock valued at $11,819,000 after acquiring an additional 327,907 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after acquiring an additional 200,190 shares in the last quarter.

Insider Activity

In other news, insider Justyn Russell Howard sold 20,000 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the transaction, the insider now owns 7,417 shares of the company's stock, valued at approximately $209,381.91. The trade was a 72.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $29.23, for a total transaction of $34,520.63. Following the completion of the transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on SPT shares. KeyCorp lowered shares of Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research note on Thursday, August 22nd. Barclays dropped their price target 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. Piper Sandler cut their price objective on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. Robert W. Baird lifted their target price on Sprout Social from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $46.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social presently has a consensus rating of "Hold" and an average target price of $47.08.

Sprout Social Stock Down 0.4 %

Shares of NASDAQ:SPT traded down $0.12 during trading on Friday, hitting $28.64. 528,064 shares of the company were exchanged, compared to its average volume of 749,067. The firm's 50 day moving average price is $28.10 and its 200-day moving average price is $31.72. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.98. The stock has a market capitalization of $1.63 billion, a P/E ratio of -23.87 and a beta of 0.99.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 company had revenue of $102.64 million during the quarter, compared to analysts' expectations of $102.04 million. On average, research analysts predict that Sprout Social, Inc. will post -0.9 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.