CANADA LIFE ASSURANCE Co Has $6.14 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

CANADA LIFE ASSURANCE Co lessened its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 17.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,958 shares of the company’s stock after selling 22,184 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.18% of Sprout Social worth $6,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SPT. Verdence Capital Advisors LLC raised its stake in Sprout Social by 3.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock worth $451,000 after acquiring an additional 225 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Sprout Social in the 1st quarter valued at approximately $27,000. Assetmark Inc. boosted its position in Sprout Social by 28.9% in the fourth quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after buying an additional 650 shares in the last quarter. Finally, Covestor Ltd boosted its position in Sprout Social by 35,450.0% in the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after buying an additional 709 shares in the last quarter.

Analyst Ratings Changes

SPT has been the subject of a number of research reports. BTIG Research cut Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research note on Wednesday. Oppenheimer reduced their price target on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Barclays dropped their price objective on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Finally, KeyCorp lowered shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.43.

Sprout Social Stock Up 1.9 %

Shares of NASDAQ:SPT opened at $38.92 on Friday. The business’s 50-day moving average is $34.54 and its 200-day moving average is $48.18. Sprout Social, Inc. has a 1 year low of $25.68 and a 1 year high of $68.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.10. The firm had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. On average, research analysts anticipate that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.50, for a total transaction of $570,000.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at approximately $11,589,126. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $28.51, for a total transaction of $42,765.00. Following the transaction, the chief financial officer now owns 171,144 shares of the company’s stock, valued at $4,879,315.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $28.50, for a total value of $570,000.00. Following the sale, the chief executive officer now owns 406,636 shares of the company’s stock, valued at approximately $11,589,126. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,470 shares of company stock worth $3,063,248. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Company 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.