Raymond James Financial Inc. Makes New $1.18 Million Investment in Sprout Social, Inc. (NASDAQ:SPT)

Raymond James Financial Inc. purchased a new position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,558 shares of the company's stock, valued at approximately $1,184,000. Raymond James Financial Inc. owned approximately 0.07% of Sprout Social at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPT. Quarry LP grew its position in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock valued at $46,000 after purchasing an additional 790 shares in the last quarter. US Bancorp DE grew its holdings in Sprout Social by 2,392.6% during the 4th 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 in the last quarter. KBC Group NV grew its holdings in Sprout Social by 77.1% during the 4th quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after buying an additional 1,099 shares in the last quarter. Yarbrough Capital LLC bought a new stake in Sprout Social in the 4th quarter worth approximately $206,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Sprout Social by 28.9% during the 4th quarter. Handelsbanken Fonder AB now owns 11,600 shares of the company's stock worth $356,000 after acquiring an additional 2,600 shares in the last quarter.

Sprout Social Stock Down 1.4 %

Shares of NASDAQ:SPT traded down $0.28 during trading hours on Monday, hitting $19.94. The company's stock had a trading volume of 1,267,676 shares, compared to its average volume of 746,710. The firm's fifty day moving average price is $27.35 and its 200 day moving average price is $29.33. Sprout Social, Inc. has a 52 week low of $18.85 and a 52 week high of $59.04. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -16.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Remove Ads

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 (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). The business had revenue of $107.09 million for the quarter, compared to analysts' expectations of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the transaction, the chief executive officer now owns 136,575 shares in the company, valued at $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 available through this link. Also, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the completion of the sale, the director now owns 30,665 shares of the company's stock, valued at approximately $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,446 shares of company stock valued at $4,436,839. Corporate insiders own 10.97% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley decreased their price target on Sprout Social from $37.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank dropped their price objective on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sprout Social currently has a consensus rating of "Hold" and an average price target of $33.85.

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.