Trexquant Investment LP Buys 19,713 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Trexquant Investment LP boosted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 67.8% during the fourth quarter, Holdings Channel reports. The fund owned 48,804 shares of the company’s stock after acquiring an additional 19,713 shares during the period. Trexquant Investment LP’s holdings in Sprout Social were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SPT. FMR LLC grew its holdings in Sprout Social by 21.4% during the 3rd quarter. FMR LLC now owns 48,599 shares of the company’s stock worth $1,413,000 after acquiring an additional 8,553 shares during the last quarter. Quarry LP grew its holdings in Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after acquiring an additional 790 shares during the last quarter. Stifel Financial Corp raised its position in shares of 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 acquiring an additional 13,274 shares during the last quarter. State Street Corp lifted its stake in shares of Sprout Social by 0.5% during the third quarter. State Street Corp now owns 1,227,099 shares of the company’s stock valued at $35,672,000 after acquiring an additional 5,557 shares during the period. Finally, XTX Topco Ltd bought a new position in Sprout Social in the third quarter valued at about $521,000.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the sale, the director now directly owns 42,122 shares in the company, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the transaction, the chief executive officer now owns 136,575 shares of the company’s stock, valued at approximately $2,717,842.50. This represents a 10.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,446 shares of company stock valued at $4,436,839 in the last 90 days. 10.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Canaccord Genuity Group dropped their price objective on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC cut their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. 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. Finally, 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 note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sprout Social presently has a consensus rating of “Hold” and an average target price of $33.85.

Sprout Social Price Performance

NASDAQ SPT opened at $21.17 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -17.64 and a beta of 1.11. The business has a 50 day simple moving average of $26.29 and a 200 day simple moving average of $29.08. Sprout Social, Inc. has a 52-week low of $18.72 and a 52-week high of $56.73.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

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.