Cubist Systematic Strategies LLC Increases Holdings in Sprout Social, Inc. $SPT

Key Points

• Cubist Systematic Strategies LLC increased its stake in Sprout Social by 633.2%, acquiring 73,456 shares during the first quarter, bringing its total holdings to 85,056 shares valued at approximately $1.87 million.
• Wall Street analysts have diverse opinions on Sprout Social, with several lowering price targets and ratings while the stock maintains a consensus rating of "Moderate Buy" and an average target price of $27.36.
• Sprout Social reported earnings of $0.18 per share for the last quarter, surpassing analyst expectations, with a 12.5% increase in revenue compared to the previous year.

Cubist Systematic Strategies LLC lifted its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 633.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,056 shares of the company's stock after acquiring an additional 73,456 shares during the period. Cubist Systematic Strategies LLC owned 0.15% of Sprout Social worth $1,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after purchasing an additional 1,359 shares during the last quarter. Quarry LP lifted its position in Sprout Social by 85.2% during the first quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after purchasing an additional 673 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Sprout Social during the first quarter valued at $47,000. AlphaQuest LLC lifted its position in Sprout Social by 205.1% during the first quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock valued at $98,000 after purchasing an additional 3,011 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Sprout Social by 19,500.0% during the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock valued at $198,000 after acquiring an additional 8,970 shares during the period.

Sprout Social Trading Down 5.3%

NASDAQ SPT traded down $0.77 during trading hours on Friday, hitting $13.65. 1,185,067 shares of the company were exchanged, compared to its average volume of 955,958. The stock has a 50-day moving average price of $16.57 and a 200 day moving average price of $20.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. Sprout Social, Inc. has a 52 week low of $13.33 and a 52 week high of $36.30. The stock has a market cap of $802.76 million, a PE ratio of -14.37 and a beta of 0.86.

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, topping the consensus estimate of $0.15 by $0.03. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.The company had revenue of $111.78 million for the quarter, compared to analysts' expectations of $110.93 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPT shares. Canaccord Genuity Group decreased their price target on Sprout Social from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 target price on shares of Sprout Social in a report on Wednesday, May 28th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $24.00 target price on shares of Sprout Social in a report on Tuesday, June 3rd. 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. Finally, The Goldman Sachs Group reduced their target price on Sprout Social from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total transaction of $844,800.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at $156,647.04. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred 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 owned 28,963 shares of the company's stock, valued at $551,745.15. This trade represents a 14.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,366 shares of company stock worth $1,754,519 over the last 90 days. Company insiders own 10.12% of the company's stock.

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.