Wellington Management Group LLP Has $110.05 Million Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Wellington Management Group LLP trimmed its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,583,402 shares of the company's stock after selling 179,041 shares during the quarter. Wellington Management Group LLP owned 6.20% of Sprout Social worth $110,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings in Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company's stock valued at $46,000 after purchasing an additional 790 shares in the last quarter. Franklin Resources Inc. boosted its stake in Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after buying an additional 1,034 shares in the last quarter. Sei Investments Co. grew its position in Sprout Social by 3.0% in the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company's stock valued at $1,102,000 after acquiring an additional 1,038 shares during the period. KBC Group NV raised its stake in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Sprout Social by 8.1% during the fourth quarter. Diversified Trust Co now owns 17,044 shares of the company's stock valued at $523,000 after acquiring an additional 1,274 shares during the period.

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Wall Street Analysts Forecast Growth

SPT has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Sprout Social from $34.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Morgan Stanley decreased their price objective on shares of Sprout Social from $37.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Barclays cut their target price on shares of Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group decreased their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Needham & Company LLC cut their price objective on Sprout Social from $55.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Sprout Social currently has an average rating of "Hold" and a consensus price target of $33.85.

Insider Transactions at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the transaction, the chief executive officer now owns 136,575 shares of the company's stock, valued at $2,717,842.50. This trade represents a 10.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company's stock, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,446 shares of company stock worth $4,436,839 in the last three months. Insiders own 10.97% of the company's stock.

Sprout Social Trading Up 1.3 %

SPT stock traded up $0.26 during midday trading on Tuesday, reaching $20.20. The stock had a trading volume of 148,327 shares, compared to its average volume of 744,168. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -16.84 and a beta of 1.11. Sprout Social, Inc. has a twelve month low of $18.72 and a twelve month high of $59.04. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $27.35 and a two-hundred day simple moving average of $29.33.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. As a group, research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.