Legal Advantage Investments Inc. Sells 400 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Legal Advantage Investments Inc. lessened its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,575 shares of the company’s stock after selling 400 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Sprout Social were worth $878,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Yarbrough Capital LLC acquired a new position in Sprout Social during the 4th quarter valued at approximately $206,000. Diversified Trust Co increased its stake in Sprout Social by 8.1% during the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock valued at $523,000 after purchasing an additional 1,274 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after purchasing an additional 307,906 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 purchasing an additional 200,190 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Sprout Social by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after acquiring an additional 1,034 shares during the last quarter.

Sprout Social Price Performance

Sprout Social stock opened at $32.62 on Tuesday. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41. The stock has a market cap of $1.87 billion, a P/E ratio of -27.18 and a beta of 1.03. The company has a 50-day moving average price of $31.74 and a 200 day moving average price of $31.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last announced its 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 return on equity of 40.94% and a negative net margin of 17.24%. Sell-side analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insider Activity

In other Sprout Social news, CEO Ryan Paul Barretto sold 13,465 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total transaction of $423,474.25. Following the sale, the chief executive officer now owns 546,343 shares of the company’s stock, valued at approximately $17,182,487.35. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 in the company, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,265 shares of company stock valued at $2,533,406. 10.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SPT shares. Oppenheimer dropped their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Piper Sandler dropped their price objective 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. Scotiabank started coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Sprout Social in a report on Wednesday, January 15th. Finally, Barclays lowered their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.42.

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.