JPMorgan Chase & Co. Grows Stake in Sprout Social, Inc. (NASDAQ:SPT)

JPMorgan Chase & Co. increased its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 324.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 402,947 shares of the company's stock after purchasing an additional 307,906 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.70% of Sprout Social worth $11,714,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Sprout Social by 20.0% during the third 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 during the period. Franklin Resources Inc. raised its holdings in Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after acquiring an additional 1,034 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Sprout Social by 3.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company's stock valued at $2,855,000 after acquiring an additional 3,344 shares during the period. Geode Capital Management LLC raised its holdings in Sprout Social by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company's stock valued at $34,179,000 after acquiring an additional 22,320 shares during the period. Finally, M&T Bank Corp bought a new stake in Sprout Social during the third quarter valued at about $1,074,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler decreased their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Needham & Company LLC restated a "buy" rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Morgan Stanley raised their price objective on Sprout Social from $36.00 to $37.00 and gave the company an "equal weight" rating in a research report on Monday. Scotiabank started coverage on Sprout Social in a research report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price objective for the company. Finally, Oppenheimer cut their price objective 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.54.

Insider Activity

In related news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.24, for a total value of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares of the company's stock, valued at $1,221,169.60. The trade was a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the completion of the transaction, the chief executive officer now directly owns 546,343 shares of the company's stock, valued at $17,182,487.35. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,265 shares of company stock valued at $1,115,306. Corporate insiders own 10.97% of the company's stock.

Sprout Social Trading Down 0.4 %

NASDAQ SPT traded down $0.12 during trading on Monday, hitting $30.38. The stock had a trading volume of 436,268 shares, compared to its average volume of 458,753. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -25.32 and a beta of 1.03. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $68.41. The stock has a 50 day simple moving average of $31.41 and a 200 day simple moving average of $31.38.

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

Sprout Social 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.