Blair William & Co. IL Decreases Stake in Sprout Social, Inc. (NASDAQ:SPT)

Blair William & Co. IL lessened its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 36.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 264,483 shares of the company’s stock after selling 149,038 shares during the period. Blair William & Co. IL owned approximately 0.46% of Sprout Social worth $8,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPT. Quarry LP grew its holdings in shares of 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 buying an additional 790 shares during the last quarter. US Bancorp DE grew its stake in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV increased its holdings in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares during the period. Yarbrough Capital LLC acquired a new position in shares of Sprout Social in the fourth quarter valued at about $206,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Sprout Social by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock worth $265,000 after purchasing an additional 2,533 shares during the last quarter.

Insider Activity

In other news, Director Karen Walker sold 5,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $30.26, for a total transaction of $151,300.00. Following the completion of the transaction, the director now directly owns 30,665 shares in the company, valued at approximately $927,922.90. This represents a 14.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares in the company, valued at approximately $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,446 shares of company stock valued at $3,823,551. 10.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPT. Stifel Nicolaus cut their price target on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Canaccord Genuity Group dropped their target price on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Finally, Piper Sandler dropped their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.85.

Sprout Social Stock Performance

SPT opened at $22.52 on Friday. Sprout Social, Inc. has a twelve month low of $22.12 and a twelve month high of $59.85. The firm has a market capitalization of $1.30 billion, a PE ratio of -18.77 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $28.78 and its 200 day moving average price is $29.59.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The company had revenue of $107.09 million for 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, sell-side 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.