Sprout Social, Inc. $SPT Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Sprout Social, Inc. by 10.9%, now holding approximately 0.39% of the company valued at $4.99 million.
• Sprout Social reported a 12.5% year-over-year revenue growth, with earnings per share of $0.18, exceeding analysts' expectations of $0.15.
• Analyst ratings for Sprout Social show mixed results, with price targets ranging from $21.00 to $32.00 and a consensus rating of "Moderate Buy."

Panagora Asset Management Inc. grew its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,062 shares of the company's stock after purchasing an additional 22,269 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.39% of Sprout Social worth $4,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Magnetar Financial LLC acquired a new stake in shares of Sprout Social in the 1st quarter valued at $335,000. Trexquant Investment LP raised its stake in Sprout Social by 192.8% during the 1st quarter. Trexquant Investment LP now owns 142,916 shares of the company's stock worth $3,143,000 after acquiring an additional 94,112 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in Sprout Social by 174.3% during the 1st quarter. Landscape Capital Management L.L.C. now owns 70,008 shares of the company's stock worth $1,539,000 after acquiring an additional 44,484 shares in the last quarter. AlphaQuest LLC raised its stake in Sprout Social by 205.1% during the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock worth $98,000 after acquiring an additional 3,011 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Sprout Social during the 1st quarter worth $493,000.

Insider Transactions at Sprout Social

In other news, insider Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $14.94, for a total transaction of $298,800.00. Following the completion of the sale, the insider owned 7,417 shares in the company, valued at approximately $110,809.98. This represents a 72.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $355,488.00. Following the sale, the chief executive officer owned 119,775 shares of the company's stock, valued at $2,534,439. This trade represents a 12.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,366 shares of company stock worth $1,754,519. Company insiders own 10.12% of the company's stock.

Sprout Social Stock Performance

Shares of SPT traded up $0.29 during mid-day trading on Friday, hitting $15.15. 822,788 shares of the company's stock were exchanged, compared to its average volume of 1,012,371. Sprout Social, Inc. has a fifty-two week low of $13.33 and a fifty-two week high of $36.30. The firm has a market capitalization of $890.97 million, a P/E ratio of -15.95 and a beta of 0.86. The business's 50 day moving average is $17.22 and its two-hundred day moving average is $20.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $110.93 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut 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 note on Thursday, August 7th. Needham & Company LLC reiterated a "buy" rating and set a $32.00 price target on shares of Sprout Social in a research note on Wednesday, May 28th. Cantor Fitzgerald reiterated a "neutral" rating and set a $24.00 price target on shares of Sprout Social in a research note on Tuesday, June 3rd. Zacks Research lowered shares of Sprout Social from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Oppenheimer cut their price target on shares of Sprout Social from $32.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.36.

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.