Victory Capital Management Inc. Cuts Position in Sprout Social, Inc. (NASDAQ:SPT)

Victory Capital Management Inc. decreased its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 87.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,880 shares of the company's stock after selling 259,013 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Sprout Social worth $1,133,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SPT. Wellington Management Group LLP boosted its stake in Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock worth $109,374,000 after acquiring an additional 519,406 shares in the last quarter. Jennison Associates LLC boosted its stake in Sprout Social by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after acquiring an additional 7,311 shares in the last quarter. State Street Corp boosted its stake in Sprout Social by 0.5% during the third quarter. State Street Corp now owns 1,227,099 shares of the company's stock worth $35,672,000 after acquiring an additional 5,557 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock worth $34,868,000 after acquiring an additional 200,190 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Sprout Social by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company's stock worth $34,179,000 after acquiring an additional 22,320 shares in the last quarter.

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Insider Activity

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now owns 27,136 shares of the company's stock, valued at $859,397.12. The trade was a 59.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.99, for a total transaction of $520,632.00. Following the sale, the chief executive officer now directly owns 153,375 shares in the company, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,446 shares of company stock worth $3,823,551. Corporate insiders own 10.97% of the company's stock.

Sprout Social Price Performance

SPT stock traded up $0.08 during trading on Friday, hitting $25.17. 780,470 shares of the company's stock traded hands, compared to its average volume of 709,552. Sprout Social, Inc. has a 52 week low of $22.95 and a 52 week high of $62.34. 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 simple moving average of $29.51 and a 200 day simple moving average of $29.70. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -20.97 and a beta of 1.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) 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%. As a group, research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPT shares. Needham & Company LLC dropped their price objective 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. Barclays dropped their target price on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Scotiabank dropped their target price on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on shares of Sprout Social from $34.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. One 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's stock. According to data from MarketBeat.com, Sprout Social has a consensus rating of "Hold" and a consensus 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.