Goldman Sachs Group Inc. Acquires 60,947 Shares of Sprout Social, Inc. $SPT

Key Points

• Goldman Sachs Group Inc. increased its stake in Sprout Social, Inc. by 23% in the first quarter, acquiring an additional 60,947 shares valued at approximately $7.16 million.
• Insider transactions reveal significant stock sales, with insider Justyn Russell Howard offloading 20,000 shares at an average price of $14.94, leading to a 72.95% decrease in their ownership position.
• Sprout Social's stock is currently down 5.3% and has a market cap of $802.76 million, with analysts suggesting a consensus rating of "Moderate Buy" and an average target price of $27.36.

Goldman Sachs Group Inc. raised its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,750 shares of the company's stock after purchasing an additional 60,947 shares during the period. Goldman Sachs Group Inc. owned 0.56% of Sprout Social worth $7,163,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Sprout Social by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,900,938 shares of the company's stock worth $129,762,000 after buying an additional 14,771 shares during the period. Jennison Associates LLC raised its holdings in Sprout Social by 1.3% in the 1st quarter. Jennison Associates LLC now owns 2,200,443 shares of the company's stock valued at $48,388,000 after acquiring an additional 28,876 shares during the period. Nuveen LLC acquired a new stake in Sprout Social during the first quarter worth approximately $13,131,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sprout Social by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 482,644 shares of the company's stock worth $10,613,000 after acquiring an additional 11,910 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Sprout Social by 110.7% in the fourth quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company's stock valued at $13,947,000 after purchasing an additional 238,650 shares during the last quarter.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Russell Howard sold 20,000 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $14.94, for a total value of $298,800.00. Following the completion of the transaction, the insider owned 7,417 shares of the company's stock, valued at $110,809.98. This represents a 72.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Walker sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the transaction, the director owned 28,963 shares of the company's stock, valued at $551,745.15. This represents a 14.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,366 shares of company stock worth $1,754,519 in the last 90 days. Insiders own 10.12% of the company's stock.

Sprout Social Stock Down 5.3%

Shares of NASDAQ SPT opened at $13.65 on Monday. The stock has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $20.08. Sprout Social, Inc. has a 12 month low of $13.33 and a 12 month high of $36.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The company has a market cap of $802.76 million, a price-to-earnings ratio of -14.37 and a beta of 0.86.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The business had revenue of $111.78 million during 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 firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. As a group, analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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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