Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Brighton Jones LLC

Brighton Jones LLC lessened its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 64.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its stake 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 worth $32,000 after acquiring an additional 1,359 shares during the last quarter. US Bancorp DE boosted its stake in shares of Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after acquiring an additional 1,627 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Sprout Social during the 4th quarter valued at $233,000. PNC Financial Services Group Inc. lifted its stake in shares of Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock valued at $265,000 after buying an additional 2,533 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 8,970 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. Canaccord Genuity Group decreased their price target on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased 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 note on Wednesday, April 16th. Scotiabank decreased their price target on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.00.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.99, for a total transaction of $799,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $148,265.83. This trade represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the transaction, the chief executive officer now owns 136,575 shares in the company, valued at approximately $2,717,842.50. This represents a 10.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,375 shares of company stock worth $3,157,417. 10.12% of the stock is currently owned by corporate insiders.

Sprout Social Price Performance

Shares of NASDAQ SPT traded down $0.34 during mid-day trading on Friday, hitting $19.73. 733,277 shares of the company's stock traded hands, compared to its average volume of 623,969. The company's 50-day moving average is $21.35 and its two-hundred day moving average is $26.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $1.15 billion, a P/E ratio of -18.97 and a beta of 1.04. Sprout Social, Inc. has a 1 year low of $18.52 and a 1 year high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The firm had revenue of $109.29 million for the quarter, compared to analysts' expectations 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 period in the prior year, the company earned $0.10 EPS. On average, equities analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.