Sprout Social, Inc. (NASDAQ:SPT) Stock Position Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 56.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,641 shares of the company’s stock after selling 71,101 shares during the period. Edgestream Partners L.P. owned 0.10% of Sprout Social worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its position in Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after purchasing an additional 790 shares during the last quarter. US Bancorp DE grew its position in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV grew its position in Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Assetmark Inc. grew its position in Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new position in Sprout Social in the 4th quarter worth about $206,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPT. Morgan Stanley decreased their price objective on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. 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, December 3rd. Finally, Piper Sandler decreased their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.85.

Insider Buying and Selling

In other Sprout Social news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the completion of the sale, the director now owns 35,665 shares of the company’s stock, valued at $1,221,169.60. This trade represents a 12.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at $859,397.12. This trade represents a 59.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,800 shares of company stock valued at $3,413,532. Company insiders own 10.97% of the company’s stock.

Sprout Social Trading Down 4.4 %

Shares of NASDAQ:SPT opened at $23.44 on Tuesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -19.53 and a beta of 1.11. Sprout Social, Inc. has a 1-year low of $22.95 and a 1-year high of $62.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average price of $30.76 and a 200 day moving average price of $30.14.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. On average, research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.