Wellington Management Group LLP Purchases 519,406 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Wellington Management Group LLP lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 16.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,762,443 shares of the company's stock after buying an additional 519,406 shares during the quarter. Wellington Management Group LLP owned about 6.59% of Sprout Social worth $109,374,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dorsey Asset Management LLC acquired a new position in Sprout Social in the 2nd quarter valued at $61,583,000. ArrowMark Colorado Holdings LLC bought a new stake in Sprout Social during the third quarter worth about $10,717,000. Allspring Global Investments Holdings LLC grew its stake in Sprout Social by 98.7% during the second 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 raised its position in shares of Sprout Social by 9,779.5% in the 2nd quarter. Millennium Management LLC now owns 331,260 shares of the company's stock valued at $11,819,000 after buying an additional 327,907 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 worth $34,868,000 after acquiring an additional 200,190 shares in the last quarter.

Sprout Social Stock Down 1.1 %

SPT traded down $0.36 during trading on Tuesday, hitting $32.86. 631,183 shares of the company's stock were exchanged, compared to its average volume of 731,020. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The stock has a market cap of $1.89 billion, a P/E ratio of -27.68 and a beta of 1.03. The business's 50 day moving average is $29.21 and its two-hundred day moving average is $31.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler lowered their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, November 11th. KeyCorp downgraded shares of Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 price target for the company. in a report on Thursday, August 22nd. Scotiabank initiated coverage on Sprout Social in a report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of Sprout Social in a research report on Friday, November 8th. Finally, Oppenheimer decreased their price target on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Sprout Social has a consensus rating of "Hold" and a consensus target price of $45.46.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $209,381.91. This represents a 72.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the transaction, the chief executive officer now directly owns 546,343 shares in the company, valued at $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,765 shares of company stock worth $1,505,079 in the last quarter. 10.97% of the stock is currently owned by corporate insiders.

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.