Teacher Retirement System of Texas Makes New Investment in Sprout Social, Inc. (NASDAQ:SPT)

Teacher Retirement System of Texas acquired a new position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,505 shares of the company's stock, valued at approximately $363,000.

Several other institutional investors and hedge funds have also bought and sold shares of SPT. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Sprout Social by 380.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock valued at $54,425,000 after purchasing an additional 1,403,549 shares during the last quarter. Norges Bank bought a new stake in shares of Sprout Social during the fourth quarter valued at approximately $13,422,000. Dorsey Asset Management LLC increased its position in shares of Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company's stock valued at $70,822,000 after acquiring an additional 330,155 shares in the last quarter. Cadian Capital Management LP grew its position in Sprout Social by 6.1% in the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company's stock worth $139,679,000 after purchasing an additional 263,267 shares during the period. Finally, Nuveen Asset Management LLC grew its position in Sprout Social by 110.7% in the 4th quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company's stock worth $13,947,000 after purchasing an additional 238,650 shares during the period.

Sprout Social Stock Up 0.1%

NASDAQ:SPT traded up $0.02 during midday trading on Friday, reaching $18.96. 486,190 shares of the stock traded hands, compared to its average volume of 611,234. Sprout Social, Inc. has a 12-month low of $18.32 and a 12-month high of $39.75. The business has a 50-day moving average of $21.17 and a two-hundred day moving average of $24.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $1.10 billion, a PE ratio of -18.23 and a beta of 1.01.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The business had revenue of $109.29 million during the quarter, compared to analysts' expectations of $107.63 million. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. On average, equities analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total transaction of $844,800.00. Following the transaction, the insider directly owned 7,417 shares in the company, valued at approximately $156,647.04. The trade was a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the business's 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 transaction, the chief executive officer owned 119,775 shares in the company, valued at $2,534,439. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,375 shares of company stock worth $3,221,935. 10.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on SPT. The Goldman Sachs Group dropped their target price on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 target price on shares of Sprout Social in a report on Wednesday, May 28th. Morgan Stanley dropped their target price on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Oppenheimer dropped their target price on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $24.00 target price on shares of Sprout Social in a report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of "Hold" and an average target price of $30.00.

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.