Twinbeech Capital LP Sells 69,936 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Twinbeech Capital LP cut its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 76.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,504 shares of the company's stock after selling 69,936 shares during the period. Twinbeech Capital LP's holdings in Sprout Social were worth $660,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV boosted its stake in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock valued at $78,000 after purchasing an additional 1,099 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company's stock valued at $265,000 after acquiring an additional 2,533 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Sprout Social during the fourth quarter valued at approximately $304,000. Finally, KLP Kapitalforvaltning AS bought a new position in Sprout Social in the fourth quarter worth $338,000.

Sprout Social Stock Performance

SPT traded up $0.21 during trading on Wednesday, hitting $21.72. The company's stock had a trading volume of 148,936 shares, compared to its average volume of 630,901. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a one year low of $18.52 and a one year high of $39.75. The firm has a market cap of $1.26 billion, a PE ratio of -18.06 and a beta of 1.20. The business's 50 day simple moving average is $21.58 and its 200-day simple moving average is $27.46.

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

Insider Activity

In related news, insider Justyn Russell Howard sold 40,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $19.99, for a total value of $799,600.00. Following the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $148,265.83. The trade was a 84.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the sale, the director now directly owns 42,122 shares in the company, valued at approximately $1,035,358.76. The trade was a 35.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,446 shares of company stock valued at $2,644,639 in the last ninety days. Corporate insiders own 10.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPT. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price objective on shares of Sprout Social in a report on Wednesday. Piper Sandler reduced their price target on Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Scotiabank reduced their price target on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group reduced their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer reduced their price target on Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Sprout Social has an average rating of "Hold" and a consensus price target of $31.69.

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.