Emerald Advisers LLC Reduces Position in Sprout Social, Inc. (NASDAQ:SPT)

Emerald Advisers LLC trimmed its position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,783 shares of the company's stock after selling 13,567 shares during the period. Emerald Advisers LLC owned 0.41% of Sprout Social worth $5,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SPT. ArrowMark Colorado Holdings LLC raised its position in Sprout Social by 380.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock valued at $54,425,000 after purchasing an additional 1,403,549 shares in the last quarter. Norges Bank purchased a new stake in Sprout Social during the fourth quarter valued at about $13,422,000. Dorsey Asset Management LLC raised its position in Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company's stock valued at $70,822,000 after purchasing an additional 330,155 shares in the last quarter. Cadian Capital Management LP raised its position in Sprout Social by 6.1% during the fourth quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company's stock valued at $139,679,000 after purchasing an additional 263,267 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Sprout Social by 110.7% during the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company's stock valued at $13,947,000 after buying an additional 238,650 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Barclays cut their target price on Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Oppenheimer cut their target price on Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Morgan Stanley cut their target price on 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $32.00 target price on shares of Sprout Social in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Sprout Social presently has an average rating of "Hold" and a consensus price target of $30.00.

Insider Buying and Selling at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total transaction of $844,800.00. Following the completion of the sale, the insider owned 7,417 shares of the company's stock, valued at approximately $156,647.04. This represents a 84.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the completion of the transaction, the chief executive officer owned 119,775 shares in the company, valued at $2,534,439. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,375 shares of company stock valued at $3,221,935. Corporate insiders own 10.12% of the company's stock.

Sprout Social Stock Up 1.7%

SPT traded up $0.31 during trading on Thursday, hitting $18.94. The stock had a trading volume of 880,312 shares, compared to its average volume of 610,116. The company has a market capitalization of $1.10 billion, a PE ratio of -18.21 and a beta of 1.01. Sprout Social, Inc. has a twelve month low of $18.32 and a twelve month high of $39.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day simple moving average of $21.27 and a two-hundred day simple moving average of $24.67.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data 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 14.25% and a negative return on equity of 31.03%. The business 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 business's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

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.