Deutsche Bank AG Buys 23,525 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Deutsche Bank AG raised its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 84.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,367 shares of the company's stock after buying an additional 23,525 shares during the period. Deutsche Bank AG owned about 0.09% of Sprout Social worth $1,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. US Bancorp DE raised its stake in Sprout Social by 2,392.6% during the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after buying an additional 1,627 shares during the last quarter. KBC Group NV boosted its position in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after acquiring an additional 1,099 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock worth $265,000 after acquiring an additional 2,533 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Sprout Social in the 4th quarter worth about $338,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Sprout Social by 28.9% in the 4th quarter. Handelsbanken Fonder AB now owns 11,600 shares of the company's stock valued at $356,000 after purchasing an additional 2,600 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPT shares. Canaccord Genuity Group decreased their target price on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price objective on shares of Sprout Social in a research report on Wednesday. Barclays lowered their price objective on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Piper Sandler cut their target price on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank reduced their price target on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of "Hold" and an average price target of $31.69.

Sprout Social Stock Up 0.6%

SPT traded up $0.13 during trading on Thursday, hitting $21.57. 515,839 shares of the company's stock were exchanged, compared to its average volume of 631,863. Sprout Social, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $39.75. The stock has a market cap of $1.25 billion, a P/E ratio of -17.97 and a beta of 1.20. The business's 50 day moving average is $21.43 and its two-hundred day moving average is $27.37. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now directly owns 42,122 shares of the company's stock, valued at $1,035,358.76. This trade represents a 35.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.99, for a total transaction of $799,600.00. Following the completion of the sale, the insider now directly owns 7,417 shares of the company's stock, valued at $148,265.83. The trade was a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock worth $2,644,639 over the last 90 days. 10.12% of the stock is currently owned by corporate insiders.

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.