Sprout Social, Inc. $SPT Stock Holdings Decreased by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Sprout Social by 3.6% during the first quarter, leaving it with 475,874 shares valued at approximately $10.46 million.
• Various institutional investors, including PNC Financial Services and Versant Capital Management, have adjusted their positions in Sprout Social, with some increasing their stakes significantly during the quarter.
• Sprout Social reported a better-than-expected earnings per share of $0.18, exceeding the consensus estimate of $0.15, and showed a year-over-year revenue growth of 12.5% for the most recent quarter.

Northern Trust Corp reduced its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 3.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 475,874 shares of the company's stock after selling 17,576 shares during the period. Northern Trust Corp owned about 0.82% of Sprout Social worth $10,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPT. Versant Capital Management Inc grew its stake 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 acquiring an additional 1,359 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Sprout Social in the 1st quarter worth approximately $47,000. GAMMA Investing LLC grew its stake in shares of Sprout Social by 19,500.0% during the 1st 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 period. PNC Financial Services Group Inc. grew its stake in shares of Sprout Social by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company's stock valued at $206,000 after buying an additional 747 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Sprout Social during the 4th quarter valued at $233,000.

Wall Street Analysts Forecast Growth

SPT has been the subject of several research reports. Zacks Research cut shares of Sprout Social from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald reissued a "neutral" rating and set a $24.00 price objective on shares of Sprout Social in a research note on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and set a $32.00 price objective on shares of Sprout Social in a research note on Wednesday, May 28th. The Goldman Sachs Group lowered their price objective on shares of Sprout Social from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Oppenheimer lowered 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. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Sprout Social presently has an average rating of "Moderate Buy" and an average price target of $27.36.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business's 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 transaction, the insider owned 7,417 shares in the company, valued at $156,647.04. The trade was a 84.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business's stock in a transaction 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 owned 119,775 shares in the company, valued at $2,534,439. This represents a 12.30% decrease in their position. 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 quarter. 10.12% of the stock is owned by corporate insiders.

Sprout Social Stock Up 4.0%

Shares of NASDAQ:SPT traded up $0.55 during midday trading on Thursday, hitting $14.42. 896,454 shares of the company's stock traded hands, compared to its average volume of 962,112. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $848.04 million, a PE ratio of -15.18 and a beta of 0.86. The firm's fifty day moving average price is $16.72 and its two-hundred day moving average price is $20.28. Sprout Social, Inc. has a twelve month low of $13.33 and a twelve month high of $36.30.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The business had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business's quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal 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.