Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 52.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,893 shares of the company's stock after selling 332,473 shares during the quarter. Victory Capital Management Inc. owned 0.52% of Sprout Social worth $8,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP grew its position in shares of Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company's stock valued at $28,000 after buying an additional 751 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Sprout Social during the first quarter valued at approximately $37,000. Covestor Ltd raised its position in shares of Sprout Social by 35,450.0% during the first quarter. Covestor Ltd now owns 711 shares of the company's stock worth $42,000 after purchasing an additional 709 shares during the period. Bessemer Group Inc. acquired a new stake in Sprout Social in the 1st quarter valued at $61,000. Finally, nVerses Capital LLC increased its stake in Sprout Social by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company's stock valued at $107,000 after purchasing an additional 1,300 shares in the last quarter.

Wall Street Analyst Weigh In

SPT has been the topic of several recent analyst reports. Oppenheimer dropped their target price on shares of Sprout Social from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. KeyCorp cut Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of Sprout Social in a research note on Friday, November 8th. Robert W. Baird increased their price target on shares of Sprout Social from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Finally, Piper Sandler decreased their price objective on shares of Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.62.

Sprout Social Stock Up 5.9 %

NASDAQ:SPT traded up $1.78 during mid-day trading on Friday, hitting $32.10. 392,979 shares of the company's stock traded hands, compared to its average volume of 741,773. The company has a fifty day moving average of $28.46 and a 200 day moving average of $31.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a market capitalization of $1.84 billion, a P/E ratio of -26.75 and a beta of 0.99.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $102.64 million during the quarter, compared to analysts' expectations of $102.04 million. On average, analysts forecast that Sprout Social, Inc. will post -0.98 EPS for the current year.

Insider Activity at Sprout Social

In other news, President Ryan Paul Barretto sold 13,306 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total transaction of $388,934.38. Following the transaction, the president now owns 470,809 shares of the company's stock, valued at approximately $13,761,747.07. The trade was a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justyn Russell Howard sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now owns 7,417 shares of the company's stock, valued at $209,381.91. This represents a 72.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is owned by insiders.

About Sprout Social

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.