Brighton Jones LLC Has $1.11 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC boosted its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 391.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,985 shares of the company’s stock after buying an additional 28,667 shares during the period. Brighton Jones LLC owned approximately 0.06% of Sprout Social worth $1,105,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP lifted its stake in 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. Assetmark Inc. lifted its position in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares in the last quarter. Yarbrough Capital LLC purchased a new position in Sprout Social during the fourth quarter worth about $206,000. Canada Pension Plan Investment Board bought a new stake in Sprout Social in the 2nd quarter worth about $218,000. Finally, Entropy Technologies LP purchased a new stake in Sprout Social in the 3rd quarter valued at about $265,000.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SPT. Barclays cut their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Wednesday, January 15th. Piper Sandler reduced their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.42.

Sprout Social Stock Performance

Shares of SPT stock opened at $33.28 on Friday. The company’s fifty day simple moving average is $32.09 and its two-hundred day simple moving average is $31.21. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 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.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data 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). The company had revenue of $102.64 million for 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%. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now owns 27,136 shares in the company, valued at approximately $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Paul Barretto sold 13,465 shares of Sprout Social 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 sale, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,265 shares of company stock valued at $2,533,406. 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.