Quest Partners LLC Grows Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Quest Partners LLC grew its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 61,042.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 47,080 shares of the company's stock after acquiring an additional 47,003 shares during the quarter. Quest Partners LLC owned about 0.08% of Sprout Social worth $1,369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SPT. SG Americas Securities LLC purchased a new stake in shares of Sprout Social in the first quarter worth about $168,000. Russell Investments Group Ltd. boosted its position in shares of Sprout Social by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 39,352 shares of the company's stock worth $2,350,000 after buying an additional 1,060 shares during the period. ProShare Advisors LLC raised its holdings in Sprout Social by 8.9% during the first quarter. ProShare Advisors LLC now owns 9,587 shares of the company's stock valued at $572,000 after buying an additional 784 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Sprout Social by 6.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,571 shares of the company's stock worth $887,000 after buying an additional 930 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sprout Social by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,164,431 shares of the company's stock valued at $308,368,000 after acquiring an additional 93,712 shares during the last quarter.

Insider Activity at Sprout Social

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 2.73 % 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. Also, CFO Preto Joseph Del sold 1,500 shares of the 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 of the company's stock, valued at approximately $4,847,821.44. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,882 shares of company stock valued at $1,801,351. Insiders own 10.97% of the company's stock.

Sprout Social Stock Up 1.9 %

Shares of NASDAQ:SPT traded up $0.54 during trading on Wednesday, reaching $29.63. 320,699 shares of the stock traded hands, compared to its average volume of 745,025. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week 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. The stock has a 50-day moving average of $28.23 and a two-hundred day moving average of $31.33. The stock has a market cap of $1.70 billion, a P/E ratio of -24.24 and a beta of 0.99.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. As a group, sell-side analysts expect that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPT. Barclays dropped their price target on shares of Sprout Social from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $46.00 price target on shares of Sprout Social in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. Oppenheimer cut their target price on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, KeyCorp downgraded shares of 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Sprout Social currently has an average rating of "Hold" and an average target price of $45.62.

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.