Goldman Sachs Group Inc. raised its position in shares of Sprout Social, Inc. (NASDAQ:SPT – Free Report) by 23.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 325,750 shares of the company’s stock after purchasing an additional 60,947 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Sprout Social were worth $7,163,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SPT. Rhumbline Advisers boosted its stake in shares of Sprout Social by 9.6% in the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $1,693,000 after purchasing an additional 6,774 shares during the last quarter. Empowered Funds LLC acquired a new position in Sprout Social in the first quarter valued at $325,000. Caxton Associates LLP bought a new stake in Sprout Social during the first quarter valued at $358,000. Petrus Trust Company LTA acquired a new stake in Sprout Social during the 1st quarter worth about $271,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sprout Social by 2.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,127 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,265 shares in the last quarter.
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Sprout Social Trading Down 5.3%
NASDAQ SPT opened at $13.65 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $802.76 million, a P/E ratio of -14.37 and a beta of 0.86. The business has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $20.08. Sprout Social, Inc. has a 12 month low of $13.33 and a 12 month high of $36.30.
Sprout Social (NASDAQ:SPT – Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The firm had revenue of $111.78 million during the quarter, compared to analyst estimates of $110.93 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently commented on SPT. The Goldman Sachs Group cut their target price on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Oppenheimer dropped their price target on Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Sprout Social in a research report on Wednesday, May 28th. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $24.00 target price on shares of Sprout Social in a research note on Tuesday, June 3rd. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.36.
View Our Latest Report on Sprout Social
Insider Transactions at Sprout Social
In other news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the completion of the transaction, the insider directly owned 7,417 shares of the company’s stock, valued at $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, July 14th. The stock was sold at an average price of $19.05, for a total value of $95,250.00. Following the sale, the director owned 28,963 shares in the company, valued at $551,745.15. This trade represents a 14.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,366 shares of company stock worth $1,754,519 in the last 90 days. Insiders own 10.12% of the company’s stock.
Sprout Social Profile
(Free Report)
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.
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