Bank of New York Mellon Corp Cuts Stake in Sprout Social, Inc. $SPT

Key Points

• Bank of New York Mellon cut its Sprout Social stake by 59.7% in the first quarter, selling 292,257 shares and retaining 197,067 shares worth approximately $1.12 million.
• Institutional sentiment was mixed: Vanguard, State Street, LB Partners, Geode Capital and First Trust increased their holdings, while an insider sold 40,000 shares under a Rule 10b5-1 plan.
• Analyst views remain divided, with Sprout Social carrying an overall “Hold” rating and an average price target of $10.86. The company beat quarterly earnings and revenue estimates, reporting $0.26 EPS and $123.85 million in revenue.

Bank of New York Mellon Corp cut its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 59.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,067 shares of the company's stock after selling 292,257 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of Sprout Social worth $1,123,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Sprout Social by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 6,822,928 shares of the company's stock worth $76,894,000 after purchasing an additional 274,527 shares during the period. State Street Corp grew its stake in shares of Sprout Social by 8.2% during the 4th quarter. State Street Corp now owns 1,546,142 shares of the company's stock valued at $17,425,000 after buying an additional 117,757 shares during the period. LB Partners LLC grew its stake in shares of Sprout Social by 144.7% during the 1st quarter. LB Partners LLC now owns 1,510,979 shares of the company's stock valued at $8,613,000 after buying an additional 893,502 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sprout Social by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 1,254,451 shares of the company's stock worth $14,141,000 after buying an additional 123,983 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Sprout Social by 14.5% in the 4th quarter. First Trust Advisors LP now owns 1,028,538 shares of the company's stock worth $11,592,000 after buying an additional 130,447 shares during the period.

Analyst Upgrades and Downgrades

SPT has been the topic of a number of research analyst reports. KeyCorp lifted their target price on Sprout Social from $6.00 to $7.00 and gave the company an "underweight" rating in a report on Friday, August 7th. Weiss Ratings restated a "sell (e+)" rating on shares of Sprout Social in a report on Friday, July 17th. Barclays lifted their price objective on Sprout Social from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Zacks Research upgraded Sprout Social from a "hold" rating to a "strong-buy" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Sprout Social currently has an average rating of "Hold" and an average price target of $10.86.

Sprout Social Stock Down 3.5%

Shares of Sprout Social stock opened at $9.55 on Thursday. Sprout Social, Inc. has a twelve month low of $4.92 and a twelve month high of $16.03. The stock has a market cap of $574.05 million, a price-to-earnings ratio of -19.10 and a beta of 0.97. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $7.95 and a 200 day moving average price of $7.10.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.10. Sprout Social had a negative return on equity of 9.06% and a negative net margin of 6.13%.The company had revenue of $123.85 million for the quarter, compared to analysts' expectations of $122.19 million. Sprout Social has set its FY 2026 guidance at 1.110-1.150 EPS and its Q3 2026 guidance at 0.290-0.300 EPS. Equities research analysts forecast that Sprout Social, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $8.28, for a total value of $331,200.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at $61,412.76. This represents a 84.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.60% of the company's stock.

About Sprout Social

Sprout Social NASDAQ: SPT is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social's platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company's product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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