Brighton Jones LLC Sells 23,035 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC cut its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,950 shares of the company's stock after selling 23,035 shares during the quarter. Brighton Jones LLC's holdings in Sprout Social were worth $285,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Sprout Social by 2.1% in the fourth quarter. Rhumbline Advisers now owns 70,202 shares of the company's stock valued at $2,156,000 after buying an additional 1,446 shares during the period. Peregrine Capital Management LLC lifted its position in shares of Sprout Social by 1.9% during the 4th quarter. Peregrine Capital Management LLC now owns 172,702 shares of the company's stock valued at $5,304,000 after acquiring an additional 3,213 shares during the period. Handelsbanken Fonder AB boosted its stake in Sprout Social by 28.9% during the fourth quarter. Handelsbanken Fonder AB now owns 11,600 shares of the company's stock worth $356,000 after acquiring an additional 2,600 shares in the last quarter. US Bancorp DE grew its holdings in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Sprout Social by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,734 shares of the company's stock worth $14,456,000 after purchasing an additional 60,323 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPT shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. Barclays decreased their target price on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group cut their price target on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Scotiabank decreased their price objective on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler lowered their target price on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.00.

Sprout Social Stock Down 2.3%

Sprout Social stock traded down $0.48 during trading on Thursday, hitting $20.07. 483,433 shares of the company were exchanged, compared to its average volume of 625,488. The company has a market capitalization of $1.17 billion, a P/E ratio of -19.30 and a beta of 1.04. The business's 50 day moving average is $21.34 and its 200 day moving average is $26.50. Sprout Social, Inc. has a 52 week low of $18.52 and a 52 week high of $39.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $109.29 million during the quarter, compared to analyst estimates of $107.63 million. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The business's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $21.65, for a total value of $866,000.00. Following the sale, the insider now owns 7,417 shares of the company's stock, valued at approximately $160,578.05. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the sale, the chief executive officer now owns 136,575 shares of the company's stock, valued at approximately $2,717,842.50. The trade was a 10.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,375 shares of company stock valued at $3,157,417 in the last 90 days. 10.12% of the stock is currently owned by corporate insiders.

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.