Entropy Technologies LP Takes Position in Sprout Social, Inc. (NASDAQ:SPT)

Entropy Technologies LP acquired a new position in Sprout Social, Inc. (NASDAQ:SPT) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 9,107 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds have also bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Sprout Social during the first quarter valued at about $37,000. Covestor Ltd lifted its stake in Sprout Social by 35,450.0% in the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after purchasing an additional 709 shares in the last quarter. Quarry LP boosted its holdings in Sprout Social by 2,346.9% in the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after purchasing an additional 751 shares during the period. Bessemer Group Inc. purchased a new position in shares of Sprout Social during the 1st quarter valued at $61,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Sprout Social by 49.0% in the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after purchasing an additional 613 shares during the period.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total transaction of $564,600.00. Following the transaction, the insider now owns 7,417 shares in the company, valued at $209,381.91. The trade was a 72.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Ryan Paul Barretto sold 13,306 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total value of $388,934.38. Following the completion of the sale, the president now owns 470,809 shares of the company’s stock, valued at approximately $13,761,747.07. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock valued at $1,801,351 over the last three months. 10.97% of the stock is owned by company insiders.

Sprout Social Stock Down 0.4 %

Shares of NASDAQ:SPT opened at $28.64 on Friday. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41. The company has a current ratio of 0.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $28.10 and its 200-day moving average price is $31.59. The stock has a market capitalization of $1.63 billion, a P/E ratio of -23.87 and a beta of 0.99.

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

Wall Street Analysts Forecast Growth

SPT has been the subject of several recent analyst reports. Oppenheimer reduced their target price on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Barclays dropped their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler decreased their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Finally, Robert W. Baird lifted their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.08.

Sprout Social 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.