Emerald Advisers LLC Has $7.65 Million Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Emerald Advisers LLC grew its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 116.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,041 shares of the company's stock after acquiring an additional 141,252 shares during the quarter. Emerald Advisers LLC owned approximately 0.46% of Sprout Social worth $7,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in shares of Sprout Social in the 1st quarter worth approximately $27,000. Quarry LP lifted its stake in Sprout Social by 2,346.9% in the second quarter. Quarry LP now owns 783 shares of the company's stock valued at $28,000 after buying an additional 751 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Sprout Social during the first quarter valued at $37,000. Covestor Ltd grew its position in shares of Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company's stock worth $42,000 after acquiring an additional 709 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of Sprout Social in the 1st quarter worth about $61,000.

Analyst Ratings Changes

SPT has been the topic of a number of recent analyst reports. Barclays dropped their price target 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. Robert W. Baird increased their price target on Sprout Social from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. KeyCorp lowered Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a report on Thursday, August 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of Sprout Social in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sprout Social presently has an average rating of "Hold" and a consensus target price of $48.00.

Insiders Place Their Bets

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the transaction, the director now owns 42,122 shares of the company's stock, valued at approximately $1,231,226.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.68, for a total transaction of $613,600.00. Following the transaction, the chief executive officer now owns 310,812 shares of the company's stock, valued at approximately $9,535,712.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the completion of the sale, the director now directly owns 42,122 shares of the company's stock, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,882 shares of company stock valued at $2,570,471. 10.97% of the stock is currently owned by insiders.

Sprout Social Stock Performance

Shares of SPT traded up $0.48 during mid-day trading on Friday, hitting $26.97. The company's stock had a trading volume of 396,218 shares, compared to its average volume of 338,022. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $68.41. The stock's 50-day moving average is $28.47 and its two-hundred day moving average is $33.08. The firm has a market capitalization of $1.54 billion, a PE ratio of -20.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The company had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. During the same quarter last year, the firm earned ($0.23) EPS. Sprout Social's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sprout Social, Inc. will post -0.9 EPS for the current 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.