437,058 Shares in Sprout Social, Inc. (NASDAQ:SPT) Purchased by Norges Bank

Norges Bank purchased a new position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 437,058 shares of the company's stock, valued at approximately $13,422,000. Norges Bank owned about 0.76% of Sprout Social as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP lifted its holdings in Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after acquiring an additional 790 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after buying an additional 1,627 shares during the period. KBC Group NV increased its position in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after acquiring an additional 1,099 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in shares of Sprout Social during the fourth quarter worth $206,000. Finally, PNC Financial Services Group Inc. lifted its position in Sprout Social by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock valued at $265,000 after acquiring an additional 2,533 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus reduced their price target on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group decreased their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reduced their price target on Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.85.

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Insiders Place Their Bets

In other news, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total value of $334,320.00. Following the completion of the sale, the chief executive officer now owns 136,575 shares of the company's stock, valued at approximately $2,717,842.50. The trade was a 10.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $148,265.83. This trade represents a 84.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,446 shares of company stock worth $4,436,839 in the last quarter. 10.97% of the stock is owned by company insiders.

Sprout Social Stock Down 0.9 %

Sprout Social stock traded down $0.18 during mid-day trading on Friday, reaching $19.66. The stock had a trading volume of 462,525 shares, compared to its average volume of 758,346. 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, Inc. has a fifty-two week low of $18.72 and a fifty-two week high of $56.58. The stock's 50-day simple moving average is $25.75 and its 200-day simple moving average is $28.96. The firm has a market capitalization of $1.14 billion, a PE ratio of -16.38 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The company had revenue of $107.09 million for the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. On average, sell-side analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal 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.