Log Out

Moody National Bank Trust Division Buys Shares of 3,800 Sprout Social, Inc. (NASDAQ:SPT)

Defense World · Sep 21, 2022 07:51

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.

Moody National Bank Trust Division Buys Shares of 3,800 Sprout Social, Inc. (NASDAQ:SPT)

Sprout Social Price Performance

Insider Buying and Selling at Sprout Social

Analysts Set New Price Targets

About Sprout Social

Recommended Stories

Risk Disclaimer