Blair William & Co. IL Sells 61,135 Shares of Sprout Social, Inc. $SPT

Key Points

• Blair William & Co. IL has reduced its holdings in Sprout Social, Inc. by 28.6%, selling 61,135 shares during the second quarter.
• Insider Justyn Russell Howard sold 20,000 shares of Sprout Social, representing a 72.95% decrease in personal ownership, and the total insider sales in the last 90 days amount to 50,566 shares worth $695,181.
• Several analysts have downgraded Sprout Social's rating, with Canaccord Genuity and Oppenheimer lowering their price targets significantly to $25.00 and $23.00, respectively.

Blair William & Co. IL lessened its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 28.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,302 shares of the company's stock after selling 61,135 shares during the quarter. Blair William & Co. IL owned 0.26% of Sprout Social worth $3,185,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SPT. Brighton Jones LLC raised its position in Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock worth $1,105,000 after acquiring an additional 28,667 shares in the last quarter. GAMMA Investing LLC raised its position in Sprout Social by 19,500.0% during the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock worth $198,000 after acquiring an additional 8,970 shares in the last quarter. Rhumbline Advisers raised its position in Sprout Social by 9.6% during the first quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock worth $1,693,000 after acquiring an additional 6,774 shares in the last quarter. Peregrine Capital Management LLC raised its position in Sprout Social by 3.3% during the first quarter. Peregrine Capital Management LLC now owns 178,411 shares of the company's stock worth $3,923,000 after acquiring an additional 5,709 shares in the last quarter. Finally, RedJay Asset Management Inc. bought a new stake in Sprout Social during the first quarter worth $2,199,000.

Insider Transactions at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $11.81, for a total transaction of $236,200.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at $87,594.77. This represents a 72.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 50,566 shares of company stock worth $695,181 in the last 90 days. Corporate insiders own 10.12% of the company's stock.

Sprout Social Trading Up 1.0%

SPT stock opened at $10.96 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. The company's 50-day simple moving average is $14.13 and its 200 day simple moving average is $18.36. Sprout Social, Inc. has a 52 week low of $10.75 and a 52 week high of $36.30. The company has a market capitalization of $644.56 million, a PE ratio of -11.54 and a beta of 0.84.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $111.78 million for the quarter, compared to the consensus estimate of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. Sprout Social's revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, sell-side analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPT. Canaccord Genuity Group dropped their price target on shares of Sprout Social from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Oppenheimer dropped their price objective on shares of Sprout Social from $32.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Zacks Research lowered shares of Sprout Social from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Sprout Social in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Sprout Social from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.36.

Sprout Social 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.

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