Jennison Associates LLC Increases Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Jennison Associates LLC lifted its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,164,256 shares of the company's stock after acquiring an additional 21,186 shares during the quarter. Jennison Associates LLC owned 3.79% of Sprout Social worth $62,915,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SPT. Impax Asset Management Group plc lifted its holdings in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company's stock valued at $5,486,000 after buying an additional 60,000 shares in the last quarter. Emerald Advisers LLC purchased a new position in shares of Sprout Social in the 2nd quarter worth approximately $4,345,000. Principal Financial Group Inc. grew its position in shares of Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock worth $34,868,000 after buying an additional 200,190 shares during the last quarter. Bamco Inc. NY grew its position in shares of Sprout Social by 25.8% in the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company's stock worth $58,217,000 after buying an additional 200,000 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its position in shares of Sprout Social by 133.3% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company's stock worth $4,217,000 after buying an additional 82,879 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPT shares. Barclays cut 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 report on Friday, October 11th. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. 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. Robert W. Baird boosted their target price on shares of Sprout Social from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Finally, Scotiabank initiated coverage on shares of Sprout Social in a research report on Monday. They set a "sector perform" rating and a $28.00 target price on the stock. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.62.

Insider Transactions at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the transaction, the chief financial officer now owns 162,624 shares of the company's stock, valued at $4,847,821.44. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,882 shares of company stock valued at $1,801,351 over the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Price Performance

NASDAQ:SPT traded up $0.69 during trading hours on Thursday, reaching $30.32. 358,928 shares of the company were exchanged, compared to its average volume of 743,317. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average is $28.37 and its 200-day moving average is $31.31. The firm has a market cap of $1.74 billion, a PE ratio of -25.27 and a beta of 0.99. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 40.94% and a negative net margin of 17.24%. The company had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. On average, sell-side analysts anticipate that Sprout Social, Inc. will post -0.98 earnings per share for the current fiscal year.

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.