Moody National Bank Trust Division bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT – Get Rating) in the second quarter, HoldingsChannel.com reports. The firm bought 3,800 shares of the company's stock, valued at approximately $221,000.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Sprout Social by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,683,975 shares of the company's stock worth $295,160,000 after purchasing an additional 93,793 shares in the last quarter. Invesco Ltd. increased its stake in shares of Sprout Social by 2.3% in the 1st quarter. Invesco Ltd. now owns 1,827,992 shares of the company's stock worth $146,459,000 after purchasing an additional 41,061 shares in the last quarter. Eventide Asset Management LLC increased its stake in shares of Sprout Social by 5.4% in the 1st quarter. Eventide Asset Management LLC now owns 1,049,943 shares of the company's stock worth $84,121,000 after purchasing an additional 54,000 shares in the last quarter. State Street Corp increased its stake in shares of Sprout Social by 4.9% in the 1st quarter. State Street Corp now owns 946,232 shares of the company's stock worth $75,812,000 after purchasing an additional 43,965 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Sprout Social by 3.5% in the 1st quarter. Baillie Gifford & Co. now owns 834,756 shares of the company's stock worth $66,881,000 after purchasing an additional 28,615 shares in the last quarter. 92.94% of the stock is currently owned by hedge funds and other institutional investors.
Get
Sprout Social alerts:
Sprout Social Price Performance
SPT opened at $66.08 on Wednesday. The firm has a 50-day simple moving average of $59.66 and a two-hundred day simple moving average of $60.84. Sprout Social, Inc. has a 52 week low of $38.39 and a 52 week high of $145.42.
Sprout Social (NASDAQ:SPT – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). Sprout Social had a negative net
margin of 18.65% and a negative return on equity of 28.60%. The company had revenue of $61.43 million for the quarter, compared to the consensus estimate of $60.26 million. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.
Insider Buying and Selling at Sprout Social
In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.90, for a total value of $341,040.00. Following the completion of the transaction, the president now owns 347,109 shares of the company's stock, valued at approximately $21,138,938.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.90, for a total value of $341,040.00. Following the completion of the transaction, the president now owns 347,109 shares of the company's stock, valued at approximately $21,138,938.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 427 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.55, for a total transaction of $25,854.85. Following the completion of the transaction, the chief financial officer now directly owns 130,362 shares of the company's stock, valued at approximately $7,893,419.10. The disclosure for this sale can be found here. Insiders sold 61,468 shares of company stock valued at $3,753,343 in the last 90 days. Insiders own 13.33% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on SPT shares. Barclays reduced their price objective on Sprout Social to $66.00 in a research note on Tuesday, August 9th. Canaccord Genuity Group reduced their price objective on Sprout Social from $75.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, August 4th. Morgan Stanley dropped their target price on shares of Sprout Social from $70.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, July 14th. Robert W. Baird dropped their target price on shares of Sprout Social to $76.00 in a report on Tuesday, August 9th. Finally, Piper Sandler dropped their target price on shares of Sprout Social from $76.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.67.
About Sprout Social
(Get Rating)
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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.
Recommended Stories
- Get a free copy of the StockNews.com research report on Sprout Social (SPT)
- 3 Airline Stocks Stuck in a Holding Pattern
- Roku Stock is Down but Not Out
- If You're Hungry for Value, Take a Bite on Ruth's Hospitality Grp
- Is Ford Rolling To A Rebound After Its Q3 Warning
- Has AMD stock stock fallen too far?
Want to see what other hedge funds are holding SPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprout Social, Inc. (NASDAQ:SPT – Get Rating).
Receive News & Ratings for Sprout Social Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprout Social and related companies with MarketBeat.com's FREE daily email newsletter.
