Blair William & Co. IL Cuts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Key Points

• Blair William & Co. IL has reduced its stake in Sprout Social, Inc. by 19.3%, selling 51,046 shares, and now holds approximately 0.37% of the company valued at $4.69 million.
• Sprout Social reported earnings of $0.18 EPS for the latest quarter, surpassing analysts' expectations, with a revenue of $111.78 million, a 12.5% increase year-over-year.
• Goldman Sachs and Barclays both lowered their target prices for Sprout Social, now set at $23.00 and $26.00 respectively, reflecting a cautious outlook from analysts.

Blair William & Co. IL cut its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 19.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,437 shares of the company's stock after selling 51,046 shares during the period. Blair William & Co. IL owned approximately 0.37% of Sprout Social worth $4,693,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after purchasing an additional 1,359 shares in the last quarter. 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 last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Sprout Social by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company's stock valued at $206,000 after purchasing an additional 747 shares in the last quarter. Woodline Partners LP bought a new position in Sprout Social during the 4th quarter valued at $233,000. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Sprout Social by 31.0% during the first 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 in the last quarter.

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $19.05, for a total value of $95,250.00. Following the sale, the director directly owned 28,963 shares of the company's stock, valued at approximately $551,745.15. The trade was a 14.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,375 shares of company stock worth $2,389,535. Corporate insiders own 10.12% of the company's stock.

Sprout Social Price Performance

Shares of NASDAQ SPT traded down $0.80 during trading hours on Friday, reaching $13.94. 1,214,893 shares of the stock traded hands, compared to its average volume of 703,274. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $811.03 million, a P/E ratio of -14.67 and a beta of 0.99. The company's 50-day simple moving average is $19.66 and its two-hundred day simple moving average is $23.06. Sprout Social, Inc. has a 52-week low of $13.75 and a 52-week high of $36.30.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.03. The firm had revenue of $111.78 million for the quarter, compared to analysts' expectations of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 26.65%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 earnings per share. Equities research analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SPT shares. Canaccord Genuity Group decreased their price target on Sprout Social from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday. Morgan Stanley cut their price objective on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald restated a "neutral" rating and set a $24.00 target price on shares of Sprout Social in a research report on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and issued a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their price target on shares of Sprout Social from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.42.

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.