Principal Financial Group Inc. Sells 170,525 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Principal Financial Group Inc. decreased its position in Sprout Social, Inc. (NASDAQ:SPT) by 14.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,028,926 shares of the company’s stock after selling 170,525 shares during the quarter. Principal Financial Group Inc.’s holdings in Sprout Social were worth $31,599,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Sprout Social by 2.1% in the 4th quarter. Rhumbline Advisers now owns 70,202 shares of the company’s stock worth $2,156,000 after purchasing an additional 1,446 shares in the last quarter. Jennison Associates LLC boosted its stake in Sprout Social by 0.3% in the 4th quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock worth $66,689,000 after purchasing an additional 7,311 shares in the last quarter. KBC Group NV boosted its stake in Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares in the last quarter. Brighton Jones LLC boosted its stake in Sprout Social by 391.7% in the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock worth $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new position in Sprout Social in the 4th quarter worth about $206,000.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This represents a 84.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.45, for a total transaction of $423,474.25. Following the completion of the sale, the chief executive officer now directly owns 546,343 shares of the company’s stock, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,265 shares of company stock valued at $3,837,006. 10.97% of the stock is owned by corporate insiders.

Sprout Social Price Performance

NASDAQ SPT opened at $28.41 on Friday. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $65.53. The firm has a market capitalization of $1.63 billion, a P/E ratio of -23.67 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $32.14 and a 200-day moving average price of $30.61.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SPT shares. Scotiabank started coverage on Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price for the company. Oppenheimer decreased their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Piper Sandler decreased their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Morgan Stanley boosted their target price on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group boosted their target price on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.58.

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.