Price T Rowe Associates Inc. MD Sells 127,628 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Price T Rowe Associates Inc. MD trimmed its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 74.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,785 shares of the company’s stock after selling 127,628 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.08% of Sprout Social worth $1,376,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPT. Dark Forest Capital Management LP bought a new stake in Sprout Social during the 4th quarter worth about $436,000. Stifel Financial Corp boosted its stake in Sprout Social by 0.4% in the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after acquiring an additional 351 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Sprout Social by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 30,190 shares of the company’s stock worth $927,000 after acquiring an additional 2,074 shares during the period. First Trust Advisors LP raised its position in shares of Sprout Social by 24.4% during the 4th quarter. First Trust Advisors LP now owns 834,093 shares of the company’s stock valued at $25,615,000 after acquiring an additional 163,788 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of 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 period.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the sale, the director now owns 25,665 shares in the company, valued at approximately $498,414.30. This represents a 16.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Friday, April 4th. The stock was sold at an average price of $19.99, for a total transaction of $799,600.00. Following the transaction, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $148,265.83. 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 have sold 125,446 shares of company stock worth $2,644,639. Insiders own 10.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPT. Canaccord Genuity Group cut their target price on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on shares of Sprout Social from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley lowered their target price on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group boosted their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC dropped their price objective on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and an average target price of $31.69.

Sprout Social Stock Performance

Shares of SPT stock opened at $23.90 on Friday. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. The company’s fifty day simple moving average is $22.00 and its 200-day simple moving average is $27.86. The firm has a market cap of $1.38 billion, a PE ratio of -19.92 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. During the same period in the prior year, the business posted $0.10 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that Sprout Social, Inc. will post -0.99 EPS 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.