JPMorgan Chase & Co. Lowers Stake in Sprout Social, Inc. (NASDAQ:SPT)

JPMorgan Chase & Co. decreased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 42.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,248 shares of the company's stock after selling 172,699 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Sprout Social worth $7,071,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SPT. Franklin Resources Inc. lifted its stake in shares of Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after purchasing an additional 1,034 shares during the period. Sei Investments Co. raised its holdings in Sprout Social by 3.0% in the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company's stock worth $1,102,000 after purchasing an additional 1,038 shares in the last quarter. KBC Group NV lifted its position in Sprout Social by 77.1% during the fourth 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 during the period. Diversified Trust Co boosted its holdings in shares of Sprout Social by 8.1% during the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company's stock valued at $523,000 after buying an additional 1,274 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Sprout Social by 1.3% in the 4th quarter. Swiss National Bank now owns 99,141 shares of the company's stock worth $3,045,000 after buying an additional 1,300 shares during the period.

Sprout Social Stock Performance

Shares of SPT stock traded up $0.43 during trading hours on Tuesday, reaching $19.31. The company had a trading volume of 690,497 shares, compared to its average volume of 751,524. 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 business has a fifty day moving average price of $23.89 and a 200-day moving average price of $28.50. Sprout Social, Inc. has a one year low of $18.52 and a one year high of $53.96. The firm has a market cap of $1.12 billion, a PE ratio of -16.09 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results 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 company had revenue of $107.09 million during the quarter, compared to analysts' expectations of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Sell-side analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the completion of the sale, the insider now owns 7,417 shares of the company's stock, valued at $241,720.03. The trade was a 84.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now owns 25,665 shares in the company, valued at $498,414.30. This trade represents a 16.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $3,115,839 over the last 90 days. Company insiders own 10.97% of the company's stock.

Analysts Set New Price Targets

SPT has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Canaccord Genuity Group dropped their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective 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. The Goldman Sachs Group dropped their target price on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley reduced their price target on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $32.15.

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.