Jennison Associates LLC Boosts Position in Sprout Social, Inc. (NASDAQ:SPT)

Jennison Associates LLC raised its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200,443 shares of the company's stock after acquiring an additional 28,876 shares during the quarter. Jennison Associates LLC owned approximately 3.81% of Sprout Social worth $48,388,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of Sprout Social by 1,319.4% during the first 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 in the last quarter. Woodline Partners LP purchased a new stake in Sprout Social in the fourth quarter valued at approximately $233,000. PNC Financial Services Group Inc. lifted its stake in Sprout Social by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock valued at $265,000 after buying an additional 2,533 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sprout Social by 19,500.0% in the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock valued at $198,000 after buying an additional 8,970 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Sprout Social in the fourth quarter valued at approximately $304,000.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $19.05, for a total transaction of $95,250.00. Following the completion of the transaction, the director owned 28,963 shares in the company, valued at $551,745.15. The trade was a 14.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at $156,647.04. The trade was a 84.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,375 shares of company stock worth $3,221,935 over the last ninety days. 10.12% of the stock is owned by insiders.

Sprout Social Stock Performance

Sprout Social stock opened at $18.96 on Friday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -18.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. Sprout Social, Inc. has a 12 month low of $18.32 and a 12 month high of $39.75. The stock's 50-day moving average is $21.17 and its 200-day moving average is $24.55.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $24.00 price objective on shares of Sprout Social in a research report on Tuesday, June 3rd. The Goldman Sachs Group cut their price objective on Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Barclays cut their price objective on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Morgan Stanley lowered their target price on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Oppenheimer lowered their target price on Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.00.

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.

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