Verdence Capital Advisors LLC Grows Stake in Sprout Social, Inc. (NASDAQ:SPT)

Verdence Capital Advisors LLC grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,345 shares of the company’s stock after acquiring an additional 225 shares during the period. Verdence Capital Advisors LLC’s holdings in Sprout Social were worth $451,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Atria Wealth Solutions Inc. lifted its holdings in Sprout Social by 4.7% during the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after purchasing an additional 208 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in Sprout Social by 40.3% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock worth $38,000 after buying an additional 220 shares during the period. PNC Financial Services Group Inc. grew its stake in Sprout Social by 14.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock valued at $125,000 after buying an additional 323 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Sprout Social by 4.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,334 shares of the company’s stock valued at $515,000 after acquiring an additional 452 shares during the period. Finally, RiverPark Advisors LLC raised its holdings in Sprout Social by 67.8% during the 4th quarter. RiverPark Advisors LLC now owns 1,247 shares of the company’s stock valued at $77,000 after acquiring an additional 504 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPT. Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price target on shares of Sprout Social in a research report on Wednesday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Sprout Social in a report on Monday. Barclays cut their price objective on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, Oppenheimer started coverage on shares of Sprout Social in a research note on Thursday, April 18th. They issued an “outperform” rating and a $76.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.57.

Sprout Social Price Performance

SPT opened at $51.29 on Tuesday. 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 12-month low of $37.00 and a 12-month high of $68.41. The stock has a 50-day moving average price of $58.76 and a 200-day moving average price of $56.90.

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

Insider Activity at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the completion of the sale, the chief financial officer now directly owns 127,322 shares of the company’s stock, valued at $7,602,396.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction 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 transaction, the president now directly owns 209,375 shares of the company’s stock, valued at $12,485,031.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, February 5th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,200 shares of company stock valued at $8,171,958. Insiders own 10.97% of the company’s stock.

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.