Bullseye Asset Management LLC Has $1.54 Million Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Bullseye Asset Management LLC lowered its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,137 shares of the company’s stock after selling 652 shares during the quarter. Bullseye Asset Management LLC owned about 0.09% of Sprout Social worth $1,539,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SPT. Barclays PLC increased its position in Sprout Social by 339.5% in the 3rd quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after acquiring an additional 69,704 shares in the last quarter. Geode Capital Management LLC raised its position in Sprout Social by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock worth $34,179,000 after purchasing an additional 22,320 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Sprout Social by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after buying an additional 1,034 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Sprout Social by 20.0% during the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after acquiring an additional 307,906 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPT shares. Jefferies Financial Group lifted their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley reduced their price objective on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays decreased their target price on Sprout Social from $34.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned 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 $32.15.

Sprout Social Stock Up 7.5 %

Shares of SPT stock opened at $20.99 on Friday. Sprout Social, Inc. has a 12-month low of $18.52 and a 12-month high of $52.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $23.46 and a 200-day moving average of $28.39. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -17.49 and a beta of 1.11.

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

Insider Activity

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now directly owns 25,665 shares of the company’s stock, valued at $498,414.30. This trade represents a 16.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,446 shares of company stock worth $3,115,839. 10.97% of the stock is currently owned by company insiders.

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.