Bank of New York Mellon Corp Invests $1.66 Million in Sprout Social, Inc. $SPT

Key Points

• Bank of New York Mellon initiated a $1.66 million position in Sprout Social, purchasing 219,623 shares, equivalent to approximately 0.37% of the company.
• Analyst sentiment remains mixed: several firms upgraded the stock or raised price targets, but coverage still averages a “Hold” rating with a consensus target of $10.43.
• Sprout Social recently beat quarterly earnings and revenue estimates, reporting $0.26 EPS and $123.85 million in revenue, while insiders have sold 51,612 shares worth about $464,157 over the past three months.

Bank of New York Mellon Corp bought a new position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 219,623 shares of the company's stock, valued at approximately $1,658,000. Bank of New York Mellon Corp owned approximately 0.37% of Sprout Social at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Summit Securities Group LLC grew its position in Sprout Social by 399.0% in the fourth quarter. Summit Securities Group LLC now owns 2,520 shares of the company's stock worth $28,000 after buying an additional 2,015 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Sprout Social during the fourth quarter valued at $28,000. Essential Partners LLC boosted its position in shares of Sprout Social by 724.9% in the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company's stock valued at $37,000 after purchasing an additional 5,756 shares during the period. GAMMA Investing LLC increased its stake in Sprout Social by 115.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company's stock worth $48,000 after purchasing an additional 3,417 shares in the last quarter. Finally, Quarry LP increased its stake in Sprout Social by 264.2% in the 3rd quarter. Quarry LP now owns 3,784 shares of the company's stock worth $49,000 after purchasing an additional 2,745 shares in the last quarter.

Insider Activity

In related news, insider Justyn Howard sold 10,895 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $11.45, for a total value of $124,747.75. Following the completion of the sale, the insider owned 239,840 shares of the company's stock, valued at approximately $2,746,168. The trade was a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 51,612 shares of company stock worth $464,157. 9.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SPT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Sprout Social from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Zacks Research raised shares of Sprout Social from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Barclays boosted their price target on shares of Sprout Social from $9.00 to $12.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. KeyCorp raised their price objective on shares of Sprout Social from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Sprout Social in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Sprout Social presently has an average rating of "Hold" and a consensus price target of $10.43.

Sprout Social Stock Down 8.0%

Sprout Social stock opened at $10.45 on Wednesday. Sprout Social, Inc. has a twelve month low of $4.92 and a twelve month high of $15.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $633.19 million, a PE ratio of -20.90 and a beta of 0.95. The firm's 50 day moving average price is $9.33 and its two-hundred day moving average price is $7.43.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.10. Sprout Social had a negative net margin of 6.13% and a negative return on equity of 8.80%. The company had revenue of $123.85 million during the quarter, compared to analyst estimates 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. On average, research analysts predict that Sprout Social, Inc. will post -0.02 EPS for the current fiscal year.

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.

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