Emerald Advisers LLC Has $5.23 Million Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Emerald Advisers LLC cut its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 5.4% in the first quarter, according to its most recent 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 quarter. Emerald Advisers LLC owned 0.41% of Sprout Social worth $5,229,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock worth $32,000 after buying an additional 1,359 shares during the period. US Bancorp DE increased its position in Sprout Social by 2,392.6% in the 4th 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 period. GAMMA Investing LLC increased its position in Sprout Social by 19,500.0% in the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock worth $198,000 after buying an additional 8,970 shares during the period. Woodline Partners LP bought a new position in Sprout Social in the 4th quarter worth approximately $233,000. Finally, PNC Financial Services Group Inc. increased its position in Sprout Social by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock worth $265,000 after buying an additional 2,533 shares during the period.

Sprout Social Price Performance

Sprout Social stock opened at $18.85 on Monday. 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 firm has a market cap of $1.10 billion, a P/E ratio of -18.13 and a beta of 1.01. The business's fifty day moving average is $21.44 and its two-hundred day moving average is $24.92. Sprout Social, Inc. has a 52 week low of $18.52 and a 52 week high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The company had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative return on equity of 31.03% and a negative net margin of 14.25%. The firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was 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 directly owned 119,775 shares of the company's stock, valued at approximately $2,534,439. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the transaction, the insider owned 7,417 shares in the company, valued at approximately $156,647.04. This trade represents a 84.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,375 shares of company stock valued at $3,126,685 over the last ninety days. 10.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. The Goldman Sachs Group decreased their price objective on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Oppenheimer decreased their price target 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 decreased their price target 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, Barclays decreased their price target 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $30.00.

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.

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