Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 362.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,742 shares of the company’s stock after purchasing an additional 98,574 shares during the period. Edgestream Partners L.P.’s holdings in Sprout Social were worth $3,655,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after acquiring an additional 751 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Sprout Social by 49.0% during the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after purchasing an additional 613 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Sprout Social by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $107,000 after buying an additional 1,300 shares during the period. 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 worth $108,000 after buying an additional 801 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Sprout Social in the second quarter valued at about $218,000.

Insider Activity

In related news, President Ryan Paul Barretto sold 13,306 shares of Sprout Social stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $388,934.38. Following the sale, the president now directly owns 470,809 shares in the company, valued at $13,761,747.07. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total transaction of $44,715.00. Following the completion of the transaction, the chief financial officer now owns 162,624 shares of the company’s stock, valued at approximately $4,847,821.44. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPT. Barclays decreased their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research note on Friday, November 8th. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, August 22nd. Oppenheimer decreased their price objective on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler dropped their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sprout Social currently has an average rating of “Hold” and an average price target of $45.62.

Sprout Social Stock Performance

Shares of SPT opened at $32.02 on Monday. The stock has a market capitalization of $1.84 billion, a PE ratio of -26.68 and a beta of 0.99. The business’s fifty day moving average price is $28.82 and its 200 day moving average price is $31.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (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 business had revenue of $102.64 million during the quarter, compared to the consensus estimate of $102.04 million. Equities research analysts forecast that Sprout Social, Inc. will post -0.98 EPS for the current year.

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.