Holocene Advisors LP Lowers Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Holocene Advisors LP trimmed its stake in Sprout Social, Inc. (NASDAQ:SPT) by 40.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 49,391 shares of the company’s stock after selling 34,145 shares during the quarter. Holocene Advisors LP’s holdings in Sprout Social were worth $1,436,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its stake in Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after purchasing an additional 751 shares in the last quarter. nVerses Capital LLC lifted its stake 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 in the last quarter. Assetmark Inc. grew its holdings 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 buying an additional 801 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sprout Social during the second quarter valued at approximately $218,000. Finally, Entropy Technologies LP bought a new stake in shares of Sprout Social during the third quarter valued at approximately $265,000.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.27, for a total transaction of $42,405.00. Following the sale, the chief financial officer now owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $28.25, for a total value of $474,600.00. Following the completion of the transaction, the chief executive officer now directly owns 170,175 shares in the company, valued at approximately $4,807,443.75. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,765 shares of company stock worth $1,505,079. 10.97% of the stock is owned by company insiders.

Sprout Social Trading Up 1.2 %

Shares of SPT stock opened at $32.43 on Friday. 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 $1.86 billion, a price-to-earnings ratio of -26.69 and a beta of 1.03. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. The firm has a fifty day moving average price of $29.06 and a 200-day moving average price of $31.54.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. As a group, equities analysts predict that Sprout Social, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPT has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Piper Sandler dropped their price objective 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. Scotiabank assumed coverage on Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. 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 report on Thursday, August 22nd. Finally, Oppenheimer decreased their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.46.

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.