Millennium Management LLC Sells 25,707 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Millennium Management LLC cut its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,277 shares of the company's stock after selling 25,707 shares during the period. Millennium Management LLC owned approximately 0.21% of Sprout Social worth $3,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Sprout Social in the fourth quarter valued at approximately $338,000. Barclays PLC grew its holdings in Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company's stock worth $2,623,000 after purchasing an additional 69,704 shares during the period. Brighton Jones LLC increased its stake in Sprout Social by 391.7% in the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after purchasing an additional 28,667 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sprout Social during the fourth quarter valued at about $1,184,000. Finally, Deutsche Bank AG boosted its position in shares of Sprout Social by 84.5% during the 4th quarter. Deutsche Bank AG now owns 51,367 shares of the company's stock worth $1,577,000 after purchasing an additional 23,525 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $24.00 price objective on shares of Sprout Social in a research note on Tuesday. Oppenheimer decreased their price objective on Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Piper Sandler dropped their target price on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Sprout Social has an average rating of "Hold" and an average price target of $30.00.

Insider Activity

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares of the company's stock, valued at approximately $1,035,358.76. This represents a 35.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total value of $334,320.00. Following the completion of the transaction, the chief executive officer now directly owns 136,575 shares of the company's stock, valued at approximately $2,717,842.50. This trade represents a 10.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $2,644,639 in the last quarter. 10.12% of the stock is currently owned by insiders.

Sprout Social Stock Up 1.3%

SPT traded up $0.29 during trading on Wednesday, reaching $22.40. The stock had a trading volume of 99,761 shares, compared to its average volume of 628,938. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -18.68 and a beta of 1.20. The stock's 50 day moving average is $21.28 and its two-hundred day moving average is $27.22. Sprout Social, Inc. has a one year low of $18.52 and a one year high of $39.75.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $109.29 million for the quarter, compared to analysts' expectations of $107.63 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect 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.