Silvercrest Asset Management Group LLC Decreases Stake in Sprout Social, Inc. (NASDAQ:SPT)

Silvercrest Asset Management Group LLC decreased its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,165 shares of the company's stock after selling 28,661 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.37% of Sprout Social worth $6,546,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company's stock valued at $2,623,000 after acquiring an additional 69,704 shares during the period. Franklin Resources Inc. raised its stake in shares of Sprout Social by 5.4% in the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company's stock valued at $576,000 after acquiring an additional 1,034 shares during the period. Brighton Jones LLC raised its stake in shares of 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 acquiring an additional 28,667 shares during the period. KBC Group NV raised its stake in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after acquiring an additional 1,099 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Sprout Social by 0.3% in the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock valued at $66,689,000 after acquiring an additional 7,311 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SPT shares. Morgan Stanley reduced their target price on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus cut their price target on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Scotiabank cut their price target on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Oppenheimer cut their price target on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.69.

Sprout Social Stock Down 1.7%

Shares of SPT stock traded down $0.37 during mid-day trading on Friday, hitting $21.32. 675,218 shares of the stock traded hands, compared to its average volume of 631,942. The stock has a market cap of $1.24 billion, a P/E ratio of -17.77 and a beta of 1.20. The stock's fifty day moving average is $21.73 and its two-hundred day moving average is $27.57. Sprout Social, Inc. has a 52-week low of $18.52 and a 52-week high of $39.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to analyst estimates of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Buying and Selling at Sprout Social

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

About Sprout Social

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.