Blair William & Co. IL Sells 51,046 Shares of 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 lessened its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 19.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,437 shares of the company's stock after selling 51,046 shares during the period. Blair William & Co. IL owned 0.37% of Sprout Social worth $4,693,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPT. Stifel Financial Corp grew its holdings in shares of Sprout Social by 0.4% during the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company's stock valued at $2,553,000 after buying an additional 351 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Sprout Social by 1.8% during the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company's stock valued at $702,000 after buying an additional 397 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Sprout Social by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company's stock valued at $206,000 after buying an additional 747 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Sprout Social by 1,319.4% during the first 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sprout Social by 11.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company's stock valued at $373,000 after buying an additional 1,703 shares during the last quarter.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider owned 7,417 shares of the company's stock, valued at $156,647.04. The trade was a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business'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 completion of the sale, the chief executive officer directly owned 119,775 shares in the company, valued at approximately $2,534,439. This trade represents a 12.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,375 shares of company stock worth $2,389,535 over the last three months. 10.12% of the stock is currently owned by insiders.

Sprout Social Stock Performance

SPT traded down $1.32 during midday trading on Thursday, reaching $14.74. The company had a trading volume of 1,521,731 shares, compared to its average volume of 645,804. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $857.57 million, a PE ratio of -15.52 and a beta of 0.99. Sprout Social, Inc. has a 12-month low of $14.59 and a 12-month high of $36.30. The business has a 50-day moving average price of $19.81 and a two-hundred day moving average price of $23.26.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share 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 quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. On average, sell-side analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPT. Barclays reduced their price objective on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Canaccord Genuity Group cut their price target on shares of Sprout Social from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday. The Goldman Sachs Group cut 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. Needham & Company LLC restated a "buy" rating and set a $32.00 price target on shares of Sprout Social in a report on Wednesday, May 28th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $24.00 price target on shares of Sprout Social in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Sprout Social currently has an average rating of "Hold" and a consensus price target of $27.42.

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.