Jennison Associates LLC Purchases 21,186 Shares of Sprout Social, Inc. (NASDAQ:SPT)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Sprout Social in the 1st quarter valued at approximately $37,000. Covestor Ltd grew its holdings in shares of Sprout Social by 35,450.0% in the 1st quarter. Covestor Ltd now owns 711 shares of the company's stock valued at $42,000 after buying an additional 709 shares during the period. Quarry LP increased its position in shares of Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company's stock valued at $28,000 after buying an additional 751 shares in the last quarter. Bessemer Group Inc. acquired a new position in Sprout Social in the first quarter valued at about $61,000. Finally, Lazard Asset Management LLC raised its position in shares of Sprout Social by 49.0% during the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company's stock worth $111,000 after purchasing an additional 613 shares during the period.

Insider Buying and Selling

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $4,847,821.44. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the transaction, the chief executive officer now directly owns 170,175 shares of the company's stock, valued at $4,807,443.75. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,882 shares of company stock worth $1,801,351. Company insiders own 10.97% of the company's stock.

Sprout Social Price Performance

Sprout Social stock opened at $29.63 on Thursday. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The company's 50-day moving average price is $28.30 and its two-hundred day moving average price is $31.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, equities research analysts predict that Sprout Social, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPT. Piper Sandler cut their price target on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of Sprout Social in a report on Friday, November 8th. Robert W. Baird boosted their target price on Sprout Social from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday. They issued a "sector perform" rating and a $28.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of "Hold" and a consensus price target of $45.62.

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.