Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,944 shares of the company’s stock after acquiring an additional 5,004 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Sprout Social worth $3,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis Advisors L.P. increased its stake in shares of Sprout Social by 43.7% during the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock valued at $3,058,000 after acquiring an additional 18,644 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Sprout Social by 244.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after acquiring an additional 3,124,376 shares during the last quarter. Corton Capital Inc. increased its stake in shares of Sprout Social by 16.6% during the 3rd quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock valued at $344,000 after acquiring an additional 983 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sprout Social by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 399,443 shares of the company’s stock worth $19,924,000 after purchasing an additional 7,945 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Sprout Social by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after purchasing an additional 191,471 shares during the period.

Sprout Social Stock Performance

Sprout Social stock opened at $52.16 on Thursday. The stock has a market cap of $2.93 billion, a P/E ratio of -43.47 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average of $59.55 and a 200-day moving average of $56.76. Sprout Social, Inc. has a 52 week low of $37.00 and a 52 week high of $68.41.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. On average, analysts expect that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler boosted their target price on Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Sprout Social in a report on Tuesday. Stifel Nicolaus boosted their target price on Sprout Social from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, January 19th. The Goldman Sachs Group boosted their target price on Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley decreased their target price on Sprout Social from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sprout Social currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.31.

Insider Activity

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred 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 directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total value of $333,928.00. Following the sale, the president now directly owns 209,375 shares in the company, valued at $12,485,031.25. The disclosure for this sale can be found here. In the last three months, insiders sold 140,200 shares of company stock worth $8,171,958. 11.93% of the stock is currently owned by insiders.

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.