CenterBook Partners LP Buys 63,248 Shares of Sprout Social, Inc. (NASDAQ:SPT)

CenterBook Partners LP grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 26.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 304,146 shares of the company's stock after acquiring an additional 63,248 shares during the period. CenterBook Partners LP owned about 0.53% of Sprout Social worth $9,340,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its position 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 acquiring an additional 519,406 shares in the last quarter. Norges Bank purchased a new stake in shares of Sprout Social in the fourth quarter valued at $13,422,000. JPMorgan Chase & Co. boosted its position in shares of Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock worth $11,714,000 after buying an additional 307,906 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock valued at $34,868,000 after buying an additional 200,190 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock valued at $180,764,000 after buying an additional 141,141 shares during the period.

Insider Transactions at Sprout Social

In related 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 transaction of $334,320.00. Following the transaction, the chief executive officer now directly owns 136,575 shares in the company, valued at $2,717,842.50. The trade was a 10.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now owns 42,122 shares of the company's stock, valued at $1,035,358.76. This represents a 35.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,446 shares of company stock worth $4,285,539. Insiders own 10.97% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have commented on SPT. Scotiabank decreased their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group cut their target price on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC dropped their price target on shares of Sprout Social from $55.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $33.85.

Sprout Social Stock Performance

SPT stock traded down $0.42 during midday trading on Monday, hitting $19.24. 145,779 shares of the company traded hands, compared to its average volume of 756,866. Sprout Social, Inc. has a twelve month low of $18.72 and a twelve month high of $56.58. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -16.03 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a 50 day simple moving average of $25.75 and a 200-day simple moving average of $28.96.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, equities research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current 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.