Principal Financial Group Inc. Has $21.46 Million Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Principal Financial Group Inc. cut its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 976,098 shares of the company's stock after selling 52,828 shares during the period. Principal Financial Group Inc. owned about 1.69% of Sprout Social worth $21,464,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in shares of Sprout Social in the 1st quarter valued at about $363,000. RedJay Asset Management Inc. acquired a new position in shares of Sprout Social in the 1st quarter valued at about $2,199,000. Peregrine Capital Management LLC boosted its holdings in shares of Sprout Social by 3.3% in the 1st quarter. Peregrine Capital Management LLC now owns 178,411 shares of the company's stock valued at $3,923,000 after buying an additional 5,709 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Sprout Social by 31.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company's stock valued at $275,000 after buying an additional 2,955 shares during the period. Finally, Rhumbline Advisers lifted its position in Sprout Social by 9.6% in the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock valued at $1,693,000 after purchasing an additional 6,774 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPT. The Goldman Sachs Group cut their price objective on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. 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. Morgan Stanley cut their price objective on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price objective on shares of Sprout Social in a research report on Wednesday, May 28th. Finally, Oppenheimer cut their price objective on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.00.

Sprout Social Price Performance

Shares of SPT stock traded down $0.90 during midday trading on Friday, reaching $18.85. 413,345 shares of the company were exchanged, compared to its average volume of 608,257. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. The company has a market cap of $1.10 billion, a P/E ratio of -18.13 and a beta of 1.01. The company's 50 day moving average price is $21.44 and its two-hundred day moving average price is $24.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97.

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, topping analysts' consensus estimates of $0.15 by $0.07. The company had revenue of $109.29 million for the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. Sprout Social's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Insider Transactions at Sprout Social

In other news, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total value of $355,488.00. Following the transaction, the chief executive officer owned 119,775 shares of the company's stock, valued at $2,534,439. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the completion of the transaction, the director directly owned 25,665 shares in the company, valued at $498,414.30. This represents a 16.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,375 shares of company stock valued at $3,223,785 in the last quarter. Insiders own 10.12% of the company's stock.

Sprout Social 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.