Victory Capital Management Inc. Boosts Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Victory Capital Management Inc. lifted its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,169 shares of the company’s stock after buying an additional 56,907 shares during the period. Victory Capital Management Inc. owned approximately 1.27% of Sprout Social worth $43,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RiverPark Advisors LLC purchased a new position in shares of Sprout Social in the third quarter worth about $37,000. Guinness Atkinson Asset Management Inc purchased a new position in shares of Sprout Social in the third quarter worth about $40,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sprout Social in the third quarter worth about $47,000. PNC Financial Services Group Inc. lifted its stake in shares of Sprout Social by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after buying an additional 323 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Sprout Social by 14.5% in the third quarter. Headlands Technologies LLC now owns 4,110 shares of the company’s stock worth $205,000 after buying an additional 522 shares in the last quarter.

Sprout Social Price Performance

Shares of SPT opened at $28.82 on Monday. 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 firm has a 50-day simple moving average of $55.98 and a two-hundred day simple moving average of $56.80. Sprout Social, Inc. has a 1-year low of $27.85 and a 1-year high of $68.41.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. On average, analysts anticipate that Sprout Social, Inc. will post -1.17 EPS for the current year.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares in the company, valued at $16,802,544.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total transaction of $1,252,900.00. Following the completion of the transaction, the director now owns 44,487 shares in the company, valued at approximately $2,533,534.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the transaction, the chief executive officer now owns 287,912 shares of the company’s stock, valued at approximately $16,802,544.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,100 shares of company stock worth $5,126,065. Corporate insiders own 10.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPT. Robert W. Baird downgraded shares of Sprout Social from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $45.00 in a research note on Friday. BTIG Research downgraded shares of Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday. The Goldman Sachs Group downgraded shares of Sprout Social from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $44.00 in a research note on Friday. Cantor Fitzgerald reduced their target price on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus lifted their target price on shares of Sprout Social from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

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.