Main Management ETF Advisors LLC Makes New Investment in Sprout Social, Inc. (NASDAQ:SPT)

Main Management ETF Advisors LLC purchased a new position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,504 shares of the company's stock, valued at approximately $654,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Sprout Social in the third quarter valued at about $521,000. Zacks Investment Management acquired a new stake in Sprout Social during the 3rd quarter valued at $2,120,000. Wellington Management Group LLP boosted its holdings in shares of Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock valued at $109,374,000 after buying an additional 519,406 shares during the period. State Street Corp lifted its position in Sprout Social by 0.5% in the 3rd quarter. State Street Corp now owns 1,227,099 shares of the company's stock valued at $35,672,000 after purchasing an additional 5,557 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Sprout Social by 19.1% in the 3rd quarter. Stifel Financial Corp now owns 82,790 shares of the company's stock worth $2,407,000 after purchasing an additional 13,274 shares in the last quarter.

Sprout Social Stock Up 1.2 %

Shares of Sprout Social stock traded up $0.40 during trading hours on Friday, reaching $32.43. The company's stock had a trading volume of 390,726 shares, compared to its average volume of 590,359. The stock's fifty day simple moving average is $29.12 and its two-hundred day simple moving average is $31.55. The company has a market capitalization of $1.86 billion, a P/E ratio of -27.02 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 company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays cut their price target on Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Piper Sandler reduced their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reissued a "buy" rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, November 8th. Finally, Scotiabank assumed coverage on Sprout Social in a report on Monday, November 18th. They issued a "sector perform" rating and a $28.00 price target for the company. One 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.46.

Insider Buying and Selling

In other news, CFO Preto Joseph Del sold 1,500 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the transaction, the chief financial officer now directly owns 158,614 shares in the company, valued at approximately $4,484,017.78. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of the firm'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 transaction, the chief executive officer now directly owns 546,343 shares of the company's stock, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,765 shares of company stock worth $1,505,079. Company insiders own 10.97% of the company's stock.

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.