Versor Investments LP Makes New Investment in Sprout Social, Inc. $SPT

Versor Investments LP purchased a new position in shares of Sprout Social, Inc. (NASDAQ:SPT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,416 shares of the company’s stock, valued at approximately $493,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Sprout Social by 391.7% in the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock valued at $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Wells Fargo & Company MN raised its position in Sprout Social by 46.7% in the 4th quarter. Wells Fargo & Company MN now owns 27,028 shares of the company’s stock valued at $830,000 after purchasing an additional 8,599 shares during the last quarter. Invesco Ltd. raised its position in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after purchasing an additional 397 shares during the last quarter. Raymond James Financial Inc. bought a new position in Sprout Social in the 4th quarter valued at $1,184,000. Finally, Barclays PLC raised its position in Sprout Social by 8.9% in the 4th quarter. Barclays PLC now owns 98,284 shares of the company’s stock valued at $3,018,000 after purchasing an additional 8,050 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. Zacks Research lowered shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Canaccord Genuity Group cut their target price on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Sprout Social in a research report on Wednesday, May 28th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.42.

Insider Activity at Sprout Social

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $355,488.00. Following the completion of the transaction, the chief executive officer directly owned 119,775 shares of the company’s stock, valued at approximately $2,534,439. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total transaction of $844,800.00. Following the transaction, the insider directly owned 7,417 shares of the company’s stock, valued at approximately $156,647.04. This trade represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,375 shares of company stock valued at $2,389,535. 10.12% of the stock is owned by corporate insiders.

Sprout Social Stock Performance

Shares of SPT stock opened at $14.63 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $860.39 million, a P/E ratio of -15.40 and a beta of 0.99. The company’s 50 day moving average price is $18.43 and its two-hundred day moving average price is $22.07. Sprout Social, Inc. has a 52 week low of $13.33 and a 52 week high of $36.30.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The firm had revenue of $111.78 million for the quarter, compared to the consensus estimate of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

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.