Counterpoint Mutual Funds LLC Takes $407,000 Position in Sprout Social, Inc. $SPT

Key Points

• Counterpoint Mutual Funds LLC has acquired 19,461 shares of Sprout Social, Inc. valued at approximately $407,000 during the 2nd quarter.
• Sprout Social reported earnings of $0.18 per share for the last quarter, slightly exceeding analysts' expectations of $0.15.
• Analysts have mixed ratings on Sprout Social, with six providing a "Buy" rating and six a "Hold" rating, alongside a consensus price target of $27.36.

Counterpoint Mutual Funds LLC purchased a new position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,461 shares of the company's stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPT. Nuveen LLC acquired a new stake in shares of Sprout Social during the first quarter valued at about $13,131,000. Federated Hermes Inc. acquired a new stake in Sprout Social during the 1st quarter valued at approximately $5,354,000. Nuveen Asset Management LLC increased its holdings in Sprout Social by 110.7% during the 4th quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company's stock worth $13,947,000 after purchasing an additional 238,650 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Sprout Social in the 4th quarter valued at approximately $4,296,000. Finally, Invenomic Capital Management LP purchased a new position in shares of Sprout Social during the 1st quarter valued at approximately $3,034,000.

Sprout Social Trading Down 3.3%

NASDAQ:SPT opened at $13.85 on Wednesday. Sprout Social, Inc. has a 1 year low of $13.33 and a 1 year high of $36.30. The stock has a market cap of $814.52 million, a price-to-earnings ratio of -14.58 and a beta of 0.86. The business has a fifty day moving average of $15.79 and a 200-day moving average of $19.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data 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 business 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 25.95%. The company's revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Equities analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

SPT has been the subject of a number of research analyst reports. Canaccord Genuity Group dropped their price target on shares of Sprout Social from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Zacks Research lowered shares of Sprout Social from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. The Goldman Sachs Group lowered their price objective on Sprout Social from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Oppenheimer reduced their target price on Sprout Social from $32.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Activity

In other Sprout Social news, CEO Ryan Paul Barretto sold 16,800 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total value of $355,488.00. Following the completion of the sale, the chief executive officer directly owned 119,775 shares in the company, valued at $2,534,439. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 92,366 shares of company stock worth $1,754,519 over the last three months. Corporate insiders own 10.12% of the company's stock.

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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