Harbor Investment Advisory LLC increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT – Get Rating) by 33.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,457 shares of the company's stock after buying an additional 366 shares during the period. Harbor Investment Advisory LLC's holdings in Sprout Social were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Sprout Social by 1.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 32,178 shares of the company's stock worth $2,578,000 after buying an additional 331 shares during the last quarter. Select Equity Group L.P. increased its holdings in shares of Sprout Social by 4.2% in the fourth quarter. Select Equity Group L.P. now owns 9,411 shares of the company's stock valued at $853,000 after purchasing an additional 377 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Sprout Social by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company's stock valued at $99,000 after purchasing an additional 414 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Sprout Social by 4.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,881 shares of the company's stock valued at $1,032,000 after purchasing an additional 490 shares during the last quarter. Finally, Ascent Group LLC increased its holdings in shares of Sprout Social by 14.3% in the first quarter. Ascent Group LLC now owns 4,390 shares of the company's stock valued at $352,000 after purchasing an additional 550 shares during the last quarter. 92.94% of the stock is currently owned by institutional investors and hedge funds.
Get Sprout Social alerts:Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Sprout Social from $70.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, July 14th. Piper Sandler decreased their price objective on shares of Sprout Social from $76.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, August 3rd. Barclays decreased their price target on shares of Sprout Social to $66.00 in a research note on Tuesday, August 9th. Robert W. Baird decreased their price target on shares of Sprout Social to $76.00 in a research note on Tuesday, August 9th. Finally, Canaccord Genuity Group decreased their price target on shares of Sprout Social from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, August 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.75.
Sprout Social Stock Up 2.7 %
SPT opened at $60.19 on Wednesday. Sprout Social, Inc. has a twelve month low of $38.39 and a twelve month high of $142.61. The company has a 50-day simple moving average of $60.14 and a 200 day simple moving average of $60.79.Sprout Social (NASDAQ:SPT – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.06). Sprout Social had a negative return on equity of 28.60% and a negative net margin of 18.65%. The firm had revenue of $61.43 million for the quarter, compared to the consensus estimate of $60.26 million. Sell-side analysts anticipate that Sprout Social, Inc. will post -0.9 EPS for the current year.
Insider Buying and Selling
In related news, CEO Justyn Russell Howard sold 20,000 shares of the company's stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $64.42, for a total transaction of $1,288,400.00. Following the completion of the sale, the chief executive officer now owns 250,642 shares of the company's stock, valued at $16,146,357.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 value of $25,854.85. Following the completion of the transaction, the chief financial officer now owns 130,362 shares of the company's stock, valued at $7,893,419.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $64.42, for a total transaction of $1,288,400.00. Following the completion of the transaction, the chief executive officer now directly owns 250,642 shares of the company's stock, valued at approximately $16,146,357.64. The disclosure for this sale can be found here. Insiders sold 61,468 shares of company stock valued at $3,753,343 over the last quarter. 13.33% of the stock is owned by company insiders.
About Sprout Social
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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.
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