Versor Investments LP Purchases New Shares in Sprout Social, Inc. (NASDAQ:SPT)

Versor Investments LP bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,517 shares of the company’s stock, valued at approximately $393,000.

Other hedge funds have also recently modified their holdings of the company. Impax Asset Management Group plc raised its position in shares of Sprout Social by 46.6% in the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the last quarter. Emerald Advisers LLC bought a new position in shares of Sprout Social during the 2nd quarter valued at approximately $4,345,000. Principal Financial Group Inc. grew its stake in shares of Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares during the period. Clearbridge Investments LLC boosted its stake in Sprout Social by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,593,907 shares of the company’s stock worth $154,882,000 after purchasing an additional 61,568 shares during the period. Finally, Bamco Inc. NY boosted its stake in Sprout Social by 25.8% in the 1st quarter. Bamco Inc. NY now owns 975,000 shares of the company’s stock worth $58,217,000 after purchasing an additional 200,000 shares during the period.

Sprout Social Trading Down 0.7 %

Shares of NASDAQ:SPT opened at $28.76 on Friday. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -24.14 and a beta of 0.99. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $28.06 and a 200-day moving average price of $31.91.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Equities analysts predict that Sprout Social, Inc. will post -0.9 EPS for the current year.

Insider Activity at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 8,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total value of $251,575.65. Following the sale, the chief executive officer now directly owns 302,217 shares of the company’s stock, valued at approximately $8,845,891.59. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the completion of the sale, the chief financial officer now directly owns 162,624 shares in the company, valued at approximately $4,847,821.44. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,882 shares of company stock worth $1,801,351. 10.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Piper Sandler reduced their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays dropped their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Sprout Social presently has an average rating of “Hold” and an average target price of $47.08.

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.