Versor Investments LP Purchases Shares of 22,416 Sprout Social, Inc. $SPT

Key Points

• Versor Investments LP made a new investment in Sprout Social, Inc., purchasing 22,416 shares valued at approximately $493,000 during Q1.
• A variety of institutional investors recently increased their stakes in Sprout Social, with Brighton Jones LLC and Wells Fargo notably boosting their positions significantly.
• Analysts have mixed ratings on Sprout Social, with target prices ranging from $21.00 to $32.00, resulting in an average target of $27.42 and an overall "Hold" rating.

Versor Investments LP acquired a new position in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,416 shares of the company's stock, valued at approximately $493,000.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in 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 purchasing an additional 28,667 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Sprout Social by 46.7% in the 4th quarter. Wells Fargo & Company MN now owns 27,028 shares of the company's stock valued at $830,000 after acquiring an additional 8,599 shares in the last quarter. Invesco Ltd. raised its holdings in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company's stock valued at $702,000 after acquiring an additional 397 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Sprout Social in the 4th quarter valued at $1,184,000. Finally, Barclays PLC raised its holdings in Sprout Social by 8.9% in the 4th quarter. Barclays PLC now owns 98,284 shares of the company's stock valued at $3,018,000 after acquiring an additional 8,050 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider owned 7,417 shares in the company, valued at approximately $156,647.04. The trade was a 84.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Walker sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the sale, the director owned 28,963 shares in the company, valued at $551,745.15. This trade represents a 14.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,375 shares of company stock worth $2,389,535. Insiders own 10.12% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SPT. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Sprout Social in a report on Wednesday, May 28th. The Goldman Sachs Group decreased their price target on Sprout Social from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group decreased their price target on Sprout Social from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $24.00 price target on shares of Sprout Social in a research note on Tuesday, June 3rd. Finally, Zacks Research lowered Sprout Social from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Sprout Social presently has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Sprout Social Price Performance

SPT stock traded up $0.60 during midday trading on Tuesday, reaching $15.24. 1,484,849 shares of the stock were exchanged, compared to its average volume of 969,434. The stock has a market capitalization of $896.26 million, a PE ratio of -16.04 and a beta of 0.99. Sprout Social, Inc. has a 52 week low of $13.33 and a 52 week high of $36.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day moving average price of $17.98 and a 200 day moving average price of $21.50.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The business had revenue of $111.78 million for the quarter, compared to analyst estimates of $110.93 million. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.Sprout Social's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.