Edgestream Partners L.P. Cuts Stake in Sprout Social, Inc. (NASDAQ:SPT)

Edgestream Partners L.P. trimmed its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 56.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,641 shares of the company's stock after selling 71,101 shares during the quarter. Edgestream Partners L.P. owned approximately 0.10% of Sprout Social worth $1,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Sprout Social by 20.0% during the 3rd 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. Assetmark Inc. lifted its holdings in Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock valued at $108,000 after purchasing an additional 801 shares in the last quarter. Versor Investments LP bought a new position in shares of Sprout Social in the third quarter worth approximately $393,000. Entropy Technologies LP purchased a new stake in shares of Sprout Social in the third quarter worth $265,000. Finally, Impax Asset Management Group plc raised its position in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company's stock valued at $5,486,000 after purchasing an additional 60,000 shares during the period.

Insider Activity at Sprout Social

In other news, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now directly owns 153,375 shares of the company's stock, valued at approximately $4,753,091.25. The trade was a 9.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Walker sold 5,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the transaction, the director now owns 35,665 shares in the company, valued at $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,800 shares of company stock worth $3,413,532. Insiders own 10.97% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have issued reports on SPT. Morgan Stanley cut their price target on Sprout Social from $37.00 to $30.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Oppenheimer lowered their target price on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group cut their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One research 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $33.85.

Sprout Social Trading Up 1.8 %

SPT stock traded up $0.42 during midday trading on Wednesday, reaching $23.85. 287,072 shares of the company traded hands, compared to its average volume of 638,588. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -19.89 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $22.95 and a 52-week high of $62.34. The business has a 50 day moving average of $30.61 and a 200-day moving average of $30.07. 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 (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (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 company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, sell-side analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

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.