Principal Financial Group Inc. Acquires 200,190 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Principal Financial Group Inc. boosted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 20.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,199,451 shares of the company's stock after buying an additional 200,190 shares during the period. Principal Financial Group Inc. owned approximately 2.10% of Sprout Social worth $34,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Dorsey Asset Management LLC bought a new stake in Sprout Social in the second quarter worth approximately $61,583,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Sprout Social in the 1st quarter worth $22,332,000. Allspring Global Investments Holdings LLC increased its stake in Sprout Social by 98.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company's stock worth $23,726,000 after buying an additional 330,309 shares in the last quarter. Millennium Management LLC lifted its stake in Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company's stock worth $11,819,000 after purchasing an additional 327,907 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Sprout Social by 25.8% during the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company's stock valued at $58,217,000 after purchasing an additional 200,000 shares during the last quarter.

Insider Activity

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social stock in a transaction that occurred 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 completion of the sale, the director now directly owns 42,122 shares in the company, valued at approximately $1,231,226.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Aaron Edward Frederick Rankin sold 1,181 shares of the firm's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $34,520.63. Following the sale, the director now directly owns 42,122 shares of the company's stock, valued at $1,231,226.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.25, for a total value of $474,600.00. Following the sale, the chief executive officer now directly owns 170,175 shares in the company, valued at $4,807,443.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock worth $1,801,351 over the last three months. Corporate insiders own 10.97% of the company's stock.

Sprout Social Stock Performance

SPT traded up $0.02 during trading on Tuesday, reaching $28.62. The company's stock had a trading volume of 414,641 shares, compared to its average volume of 748,703. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -23.83 and a beta of 0.99. The company's fifty day moving average price is $28.08 and its 200-day moving average price is $32.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 41.65% and a negative net margin of 17.24%. The company had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. On average, equities analysts forecast that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPT shares. Robert W. Baird lifted their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. 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. Piper Sandler dropped their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target on shares of Sprout Social in a research note on Friday. Finally, Barclays decreased their target price 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Sprout Social presently has an average rating of "Hold" and a consensus target price of $47.08.

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.