Sprout Social, Inc. (NASDAQ:SPT) Holdings Raised by CenterBook Partners LP

CenterBook Partners LP boosted its stake in Sprout Social, Inc. (NASDAQ:SPT) by 26.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,146 shares of the company’s stock after buying an additional 63,248 shares during the period. CenterBook Partners LP owned 0.53% of Sprout Social worth $9,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPT. FMR LLC raised its position in Sprout Social by 21.4% in the third quarter. FMR LLC now owns 48,599 shares of the company’s stock worth $1,413,000 after acquiring an additional 8,553 shares in the last quarter. Quarry LP raised its holdings in shares of Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after purchasing an additional 790 shares in the last quarter. Stifel Financial Corp boosted its holdings in Sprout Social by 19.1% during the third quarter. Stifel Financial Corp now owns 82,790 shares of the company’s stock worth $2,407,000 after buying an additional 13,274 shares in the last quarter. State Street Corp grew its position in Sprout Social by 0.5% in the third quarter. State Street Corp now owns 1,227,099 shares of the company’s stock worth $35,672,000 after buying an additional 5,557 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after buying an additional 519,406 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This represents a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,446 shares of company stock valued at $4,436,839 in the last quarter. Insiders own 10.97% of the company’s stock.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $19.20 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.11 billion, a P/E ratio of -16.00 and a beta of 1.11. The business has a 50-day moving average of $26.76 and a two-hundred day moving average of $29.19. Sprout Social, Inc. has a fifty-two week low of $18.72 and a fifty-two week high of $59.04.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPT shares. Canaccord Genuity Group decreased their target price on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays dropped their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.85.

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.