Quest Partners LLC Has $1.37 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Quest Partners LLC lifted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 61,042.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 47,080 shares of the company’s stock after buying an additional 47,003 shares during the quarter. Quest Partners LLC owned about 0.08% of Sprout Social worth $1,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Impax Asset Management Group plc lifted its holdings in Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the last quarter. Entropy Technologies LP bought a new position in Sprout Social during the 3rd quarter worth $265,000. Versor Investments LP acquired a new stake in shares of Sprout Social during the third quarter worth $393,000. Assetmark Inc. boosted its position in shares of Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares in the last quarter.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $29.09 on Wednesday. Sprout Social, Inc. has a one year low of $25.05 and a one year high of $68.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -24.24 and a beta of 0.99. The firm has a 50 day simple moving average of $28.23 and a 200 day simple moving average of $31.33.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Research analysts predict that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp lowered shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Thursday, August 22nd. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Scotiabank initiated coverage on Sprout Social in a report on Monday. They set a “sector perform” rating and a $28.00 target price on the stock. Finally, Robert W. Baird upped their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.62.

Insider Activity

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the transaction, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at $4,807,443.75. This trade represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of Sprout Social 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 transaction, the director now directly owns 42,122 shares in the company, valued at $1,231,226.06. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,882 shares of company stock valued at $1,801,351. 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.