New York State Common Retirement Fund Has $10.60 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

New York State Common Retirement Fund lowered its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,567 shares of the company’s stock after selling 19,940 shares during the quarter. New York State Common Retirement Fund owned 0.31% of Sprout Social worth $10,603,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SPT. RiverPark Advisors LLC acquired a new stake in shares of Sprout Social during the third quarter worth about $37,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social during the third quarter worth about $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sprout Social during the third quarter worth about $47,000. PNC Financial Services Group Inc. raised its position in shares of Sprout Social by 14.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after purchasing an additional 323 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Sprout Social by 14.5% during the third quarter. Headlands Technologies LLC now owns 4,110 shares of the company’s stock worth $205,000 after purchasing an additional 522 shares during the period.

Sprout Social Stock Performance

NASDAQ:SPT opened at $50.45 on Wednesday. The stock has a market cap of $2.84 billion, a P/E ratio of -42.04 and a beta of 1.05. The stock has a 50 day simple moving average of $57.24 and a 200 day simple moving average of $56.96. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social, Inc. has a 1-year low of $37.00 and a 1-year high of $68.41.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. Research analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the transaction, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the transaction, the chief executive officer now directly owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock valued at $8,171,958 in the last three months. Corporate insiders own 10.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SPT shares. Jefferies Financial Group started coverage on Sprout Social in a report on Wednesday, February 7th. They set a “buy” rating and a $76.00 price objective for the company. KeyCorp started coverage on Sprout Social in a report on Thursday, March 21st. They set an “overweight” rating and a $83.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $74.00 price objective on shares of Sprout Social in a report on Wednesday, February 21st. Stifel Nicolaus increased their price objective on Sprout Social from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Piper Sandler increased their price objective on Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.57.

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.