Sprout Social, Inc. (NASDAQ:SPT) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,009 shares of the company's stock after acquiring an additional 57,632 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Sprout Social worth $8,378,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after buying an additional 1,359 shares during the period. GAMMA Investing LLC boosted its stake in Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock valued at $198,000 after purchasing an additional 8,970 shares during the period. Woodline Partners LP acquired a new position in Sprout Social during the 4th quarter valued at about $233,000. Harbor Capital Advisors Inc. boosted its stake in Sprout Social by 31.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company's stock valued at $275,000 after purchasing an additional 2,955 shares during the period. Finally, Graham Capital Management L.P. acquired a new position in Sprout Social during the 4th quarter valued at about $304,000.

Analyst Upgrades and Downgrades

SPT has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. Barclays reduced their target price on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Oppenheimer reduced their target price on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group reduced their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley dropped their price target on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Sprout Social Price Performance

Shares of NASDAQ SPT traded down $0.14 during midday trading on Friday, reaching $18.93. The company's stock had a trading volume of 733,340 shares, compared to its average volume of 571,597. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $20.65 and a 200 day moving average price of $24.11. Sprout Social, Inc. has a one year low of $18.32 and a one year high of $39.74. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -18.20 and a beta of 1.01.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results 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 14.25% and a negative return on equity of 31.03%. The business had revenue of $109.29 million for the quarter, compared to the consensus estimate of $107.63 million. During the same period in the previous year, the firm earned $0.10 EPS. The business's revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In other news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $355,488.00. Following the transaction, the chief executive officer directly owned 119,775 shares of the company's stock, valued at $2,534,439. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $19.05, for a total transaction of $95,250.00. Following the completion of the transaction, the director directly owned 28,963 shares in the company, valued at approximately $551,745.15. This trade represents a 14.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,375 shares of company stock valued at $3,221,935 over the last ninety days. Corporate insiders own 10.12% of the company's stock.

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.